Have debated asking this as I'm sure some will see it as down ramping …. but I really don't know and want to understand so maybe someone whom really knows can explain (apologies if it has previously been explained) ….. when FAR refers to a 55% COS, what exactly are they referring to? I've googled everything I can find and my current understanding is (and please correct me if I'm wrong as what I have found on google is ambiguous at best) but when a company refers to COS in drilling it usually refers to Chance Of (geological) Success, ie they will find the expected geography unless they specifically state Chance Of (commercial) Success, is this correct?
Have debated asking this as I'm sure some will see it as down...
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