Takeaway message from this article is that BHP is spending over $1.2 billion drilling and wildcats have a 1 in 10 success rate. We have 2 from 2 and several prospects that have a COS of 50-80% and 1 billion barrels pretty much in the bag according to CNE.
We have to be attractive to the majors. Plugged said it all in another thread ... why not spend $1b-$2b buying proven acreage than gamble billions with wildcat exploration?
H
We have what they are all looking for., page-4
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