Why do they use the word pit? Is that when they dont drill but...

Why do they use the word pit?
Is that when they dont drill but dig from the surface? Seems inaccurate.

I did mangage to pick up a further 770,000 last week, but missed out on a third buy order.
I will hold rather than sell. Probably be my mistake.
Must say, I do like John Stockleys comments in todays ann. Cashflows a problem. Maybe i will try and sell some at 2.7. Also JS and anither director took up options at 5 cents not that long ago.