But keep in mind the recently drilled Booth well had a chance of success of around 30-35%, depending on how you sliced the individual risks, which was quite good for an exploration well - you have to remember that translates into a 65-70% chance of failure. While the risk numbers (and profile) for Erregulla Deep are somewhat different, the chance of failure for this well (and the vast majority of exploration wells in the Perth Basin) is in excess of 50%, so if there is any optimism in the well it is certainly cautious.
STX Price at posting:
18.3¢ Sentiment: None Disclosure: Held
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.
(20min delay)