african oilers ~ a cautionary word fwiw, page-11

I'm very impressed dt. Great post.
Very difficult to stay neutral about a trade during a run up and good profits are being made.
Good for you.

The true issue with oilers is the industry conventional hit rate for successful wells. It is probably on only 1 in 20. This changes for every well according to its location and geology relative to known oil/gas reserves. For example cooper basin drilling is a lot better than average for wildcats.

Always pays to keep on eye on the odds of success and decide whether you want to be there when the chips come down.

Cheers
Gosouth