From reading geological information pertaining to success rate of oil wells and reading information from some very informative posters on hotcopper the average percentage chance of a successful well was between 10% to 20%. ( Please correct me if I am wrong as Im relying on my memory here which has probably been seriously affected by the copious amounts of alcohol I have consumed watching my profits in CTP disolve over the last 12 months :P ) 5 out of 37 wells works out to be 13.5% success rate. Although on the lower end of the spectrum it still falls well within the average so this is not such a bad success rate after all. On the flip side having 3-4 dusters in a row would definitely cause some angst with shareholders and some financial woes for the company itself should this occur so there is still certainly some uncertainty...
CTP Price at posting:
47.0¢ Sentiment: Buy Disclosure: Held
