Our risk factors take into account the recent success rate in the Carnarvon basin, where approximately six out of 10 wells drilled after 3D seismic have resulted in a commercial discovery. Therefore our 30 to 50 percent probability factor is below actual industry experience, but is justified due to the fact that the Artemis play is not a conventional structure-based drilling target and, due to the nature of the overlying geomorphology, the risks associated with seismic interpretation are high.
MEO Price at posting:
53.5¢ Sentiment: Hold Disclosure: Held