More ladders than snakes, page-17

For they who are new to oil exploration, some info.

1. It costs about $1.1M per 1,000 feet, to drill a vertical onshore well.

2. By the time the well is producing, it will have cost more than double that.

3. The average "Permian Deposit" well, when producing, will have cost $6M to $8M.

4. This will necessitate a large capital raising or significant debt. For many wells will need to be drilled.

Hope this helps any newbies, and gives them a clue as how to evaluate various companies. Oil is not for the faint hearted. In my first essay into this field - Claremont Petroleum - I lost 90%. This caused me to spend countless days studying the industry to find out why. To the point now, where I can invest in Oil Companies, with some degree of confidence. That is the wonderful thing about investing; one can never know it all. Beware of people are "CERTAIN", especially about oil exploration IPOs. That is merely guesswork. One can get almost the same results, by writing the names in a large sheet of paper, them throwing a handful of darts at them blindfolded. You then invest in the companies that the darts fall nearest to.

Do your own research....Marum.