Moby told the stock exchange on Tuesday that Artemis has been estimated by MEO to have a 32 per cent geological chance of success.
"This is actually two reservoir horizons, one of which is considered more risky than the other, so there is 6Tcf at one and 6Tcf at another.
"Even though one is more risky than the other, it gives you two bites at the cherry, making the prospect in general have a greater chance of success," he said.
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Assuming both 'bites at the cherry' are unlinked in their success, (i.e. they can have different outcomes: both succeed, one succeed etc.), and they both have an individual 32 percent chance of success, I have compiled the following statistics.
Chance of ANY success: 53.75% Chance of only ONE success: 43.52% Chance of BOTH success: 10.24% Chance of BOTH fail: 46.24%
Disclaimer: I'm new to this stock and don't really understand any of this.
MOG Price at posting:
31.0¢ Sentiment: None Disclosure: Not Held
