With CSEM supposedly able to discriminate between H2O and black gold, I was attempting to get indication of hit and miss rates. In other words, does CSEM have a false diagnosis rate, say 5%. That is, out of 100 suspected positive indications, 5 will be non-fossil fuel bearing.
I understand this question has many ifs and buts - depends on user expertise, local geology, etc. None the less, suspect it would be highly unlikely for any exploratory JV to invest $$$$ mil upon mil, if they were not convinced (> 80%) of successful outcome?
Just wish the announcement had used some word more uplifting than "encouraging", perhaps breathtaking?
Patience Iago,
MS
FAR Price at posting:
8.3¢ Sentiment: None Disclosure: Held
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