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clock Created with Sketch. 29/09/18
22:33
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Originally posted by 34232
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“Quite simply the industry doesn't get pre drill estimates right very often. Looked at statistically - the industry as a whole gets above P50 volumes in about 10-20% of discoveries. The average result per well is around 1/3rd to 1/10th of the original prediction depending on the area looked at. Around 1-2% of discoveries are above any pre-drill estimates, with around 20-30% below any pre-drill estimates. There's lots of examples, training courses etc. that are done on this subject, but no company seems to have successfully cracked this nut globally. It's one of the reasons I put zero emphasis on exploration as my investing strategy (and as I've mentioned before - I'm an exploration geologist)”
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Any T/O tilt will raise SP - I welcome all tilts. Timing is everything though. Samo drill results first and if that probability outcome falls on the nice side of the curve and delivers the goods then FAR takeover will be above 40c
