Where did the oil go?, page-46

IMHO the failure was due to lack of a trap rather than access to charge. The structures the shelf are of low relief. Combined with a highly heterogeneous overlying lithology due to incinsions makes it difficult to get the velocity model of the seismic right to convert to depth. If you watch Caths video carefully she already has alluded to that problem. At SNE it worked in our favour. The structure exceeded pre drill estimates. This is exploration and you can't always get it right. To blame management for failure is absurd and people who think so should only blame themselves for not managing their own risk accordingly but solely relying on wishful thinking. No doubt, FAR had pre drill models showing the possibility of a lack of trap. With all the other elements being of low risk, located on trend to multi million barrels discoveries in an emerging basin you would have been a fool not to test it. The oil is there, you just have to keep digging. And yes , it won't be the last dry well.