P.S. Being drilled out was a not uncommon result when a large explorer with unlimited funding enters into a j/v with a comparatively small company and costs blow out (sometimes quite deliberately!!!), as often happens and the smaller company simply cannot continue with those costs and the larger company, by default, then takes possession of the entire well.
A very serious reason why small, poorly funded prospective explorers must ensure that they are very careful before entering into any J/V regardless how lucrative and attractive it might appear to be on the surface (and usually a very good selling point for them to raise funds at the beginning of the well!!!).
Here we had a very experienced company in oil exploration in South America and controlling the actual drilling of the well, linking up with a new company with limited funding and managed by an "investment company" run by lawyers in Australia!!!!!
Recipe for....... ????
C'mon Trumpy, I'm sure you are aware of that "practice" in the "good old days???.
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