Ahhh yes Nazzy, but do the laws of probability take into account, or allow any part of the percentage of probability, for human error, equipment failure etc. etc. Now i'm getting petty, ignore me :)
I note that professional poker players use probability to calculate pot odds. Dan Harrington, one of the best IMO, explains that to get an accurate reflection of probability you need to apply it over a longer term ie. you have more chance of your pot odds, or probability of hitting the desired card to make your hand, over 100 hands as opposed to 10 hands.
So i think all approaches ie. Probability of success of 1 of 3 like you guys said, the average chance of each like Bob said and simply looking at the GCOS for each well individually like i said, all have good points and they are all worth consideration. We sure have opened up an interesting discussion thats for sure.
Cheers guys. I think i got it now LOL! So lets just hope that our most probable well, Ooraminna 2, is a success and inturn brings the probability for the rest of the campaign up to 100% :P
- Forums
- ASX - By Stock
- CTP
- 5.5c cash backed and 3 mind boggling wells
CTP
central petroleum limited
Add to My Watchlist
0.00%
!
5.5¢

5.5c cash backed and 3 mind boggling wells, page-98
Featured News
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
|
|||||
Last
5.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $40.98M |
Open | High | Low | Value | Volume |
5.5¢ | 5.5¢ | 5.3¢ | $6.358K | 116.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 513977 | 5.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.5¢ | 134232 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 514646 | 0.053 |
3 | 556468 | 0.052 |
3 | 840000 | 0.051 |
3 | 500000 | 0.050 |
1 | 100000 | 0.044 |
Price($) | Vol. | No. |
---|---|---|
0.055 | 134232 | 1 |
0.056 | 15000 | 1 |
0.058 | 17065 | 2 |
0.059 | 326120 | 2 |
0.060 | 150000 | 2 |
Last trade - 15.28pm 22/07/2025 (20 minute delay) ? |
Featured News
CTP (ASX) Chart |