What do you believe is the probability of success for this well...

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GasBaron

128 Posts.

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27/07/20

17:23

Post #: 46101185
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Originally posted by buddy134: ↑

Why not.... That is what an O&G company is all about. Drill and more drill to prove an/or increase the Gas Reserves we have currently on hand. What is wrong with that when it appears to me that every O&G coy is following that route.?

Just look at what BPT has just told us. How many wells they drilled and how many successes they had. Yes, they even had the balls to tell us about the ones which proved to be a failure. GO FIGURE.!!

And don't forget that we have the money in the Bank too. I hope that you won't now say to me that it is earning interests while sitting there, and when the costs of engaging the services of another drilling rig in a couple of years, chances are that those costs will increase dramatically (Everything is increasing in costs year on year nothing unusual about it) and that we would even be able to get one when required especially if the O&G will take a jump and everyone will be trying to jump on the bandwagon.

Supply and demand quickly comes to mind.

Read what you want out of my post (I am sure that some so called expert will pick me up on that or at least try to), but those are my opinions and nothing will change them.

And once again that is the difference between a bean counter and some would be if they could be Geos.

Like I mentioned in some posts a while ago, let's send a Geo to the Bank for a loan and then send a properly qualified Bean Counter to the Bank with all his figures and see who will get the preferential nod.

Horses for courses mate. Simple.

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What do you believe is the probability of success for this well and what do you think is the range of resource that a successful well will discover?

CTP Price at posting: 9.2¢ Sentiment: None Disclosure: Not Held
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