29% COS calculation

Can someone correct me if I am wrong?

We are told that the COS is 29%, which I believe is considered quite good by industry standards.

If there are 5 factors that determine COS such as reservoir presence/quality, presence of a trap/structure, Source rock, presence of seal & maturation.

Then each of these factors each have their own probability of success or not.

I have no idea what the factors are in the case of TPT but for the sake of understanding probability calculations.

Does this mean that if all 5 factors were given a success probability of 78% success (that is close to a 4 out of 5 success rate).

Then - 0.78 x 0.78 x 0.78 x 0.78 x 0.78 = 29% COS

So rather than look at it as only a 29% chance of success overall. Is it the same to consider this as 5 individual factors and each of those factors have quite a good probability of success as calculated above.

If I am correction in my understanding of calculating COS. Does anyone know what the 5 individual probability ratings are in related to the current drilling program?