My logic accepts that even the best companies have dusters and...

My logic accepts that even the best companies have dusters and odds are most drilling will result in delays or dusters, even if the drill is successful then as D&L1 shows you can have bigger problems that take years to fix. Every so often there is success but that is less likely imo so the business plan has to support dusters imo.

For me a %WI model that I think GGE have used limits the commercial risk to the company It is slower to get the production up but also slower to go broke. My goal is not to lose money more than make it so in these times this model imo has been the correct approach and we are now slowing seeing the rewards whilst the peers struggle with finance and asset sales. It also puts many admin costs on the operator and these are paid as % of revenue. Staff numbers for permits etc are lower so if a well fails you move on to another. Its a bummer but that's life.

That'll do, I've almost talked myself out of O&G speckies,
My Opinion only based on prior losses when I thought you just drilled a hole and made money.
GLTA

Ps/ Welcome to the thread & thks for your input