CTP 10.0% 5.5¢ central petroleum limited

johnstone misinformation, page-12

  1. 320 Posts.
    This is ow you calculate the probability of striking oil in 1 of the 4 wells to be drilled....

    1/10 + 1/10 + 1/10 + 1/10 = 4/10

    This means there is a 10% chance if you were to drill the 1 hole. But your chances increase if you were to drill 4 holes.
 
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