OXX 5.26% 3.6¢ octanex limited

thoughts on recent announcements , page-25

  1. 1,190 Posts.
    You lot seem well informed. Guess there is a few geochemists, engineers or just plenty of oil experience amongst you.

    What is the industry average on success to failure on exploration wells?
    With success being defined as a commercially viable discovery.

    I reckon about 1 in 7, but there must be genuine accurate published research. Anyone know? Also any current stats on exploration well budget / actual costs would be an interesting read.

    My mkt observations is the sp tends to fall after say 4 weeks into drilling exploration period. Investors become nervous and the sp fluctuates.
 
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