Andnow for the right forum...DC claimed at the ESG AGM that ESG...

Andnow for the right forum...

DC claimed at the ESG AGM that ESG had a 90% odd success rate for their drilling programs. Allowing for a bit of hyperbole and over exagerration, it has me thinking: if their success rate is so good why 0 from 2 so far for OIP?

I've seen RL's response 3rd hand (thanks Second) and it also prompted a few questions...like:
- When ESG were drilling their very first coreholes did they know more about their own prospects in their coal seams than OIP does currently about its own? Did ESG stop at 500 metres in any of their drilling? Or did they go further to try and work out the value of their own tenemants?
- If 90% or thereabouts is a reasonable strike rate what are the chances of having 0 from 3 from OIP's own leases? Mathematically very small in my mind. Not that ESGs leases and OIPs are the same, but if these guys have done it succesfully before and then are applying a DIFFERENT approach this time you have to ask WHY?
- Why have the results not been released from previous drills for OIP? Can it possibly be true that the labs are so backed up that every other company that has drilled AFTER OIP are also waiting for their results? How long will it take? Remember we've just come out of the GFC which resulted in a huge downturn in exploration activity. Did all the labs close too?

Something is not right in this whole equation.

JT