4938, i think your second point of two wells drilled both with a 27% chance of success means that there is a 54% overall chance of at least one being successful is false. There is a 27% chance that one is successful and 7.29% chance of both being successful assuming the per centages you have given were correct.
Percentages are not as simple as saying that you'll drill four holes meaning that there is a 108% chance that you'll strike it lucky.
I hope this helps.
GC
trading hold - farmin agreement, page-27
Add OEL (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
1.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $62.33M | |||
| Open | High | Low | Value | Volume |
| 1.3¢ | 1.3¢ | 1.3¢ | $3.25K | 250K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 11279048 | 1.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.3¢ | 11221816 | 14 |
View Market Depth
| Last trade - 10.06am 08/10/2024 (20 minute delay) ? |
| OEL (ASX) Chart |