sp valuation & analysis, page-29

brostart The most recent well known example was the announcement of "plug and abandon" at the Poseidon field in Western Australia upon which many people immediately sold out. NOt a good example I suppose as it was really a misunderstanding- there was nothing wrong with the actual drill.But a great kerfuffle at the time. Someone the other day mentioned Woodside which plummeted after an early well failure suggested that the company was a total failure with no future . Isn't there a case on the North Slope in Alaska where the drillers tried time after time because of complex faulting until the drill bit found a very narrow crevice into a vast reservoir? I hope a similar thing happens here .
There must be some good examples where apparent overnight failure proved to be a premature assessment.
On another subject you brought up, oil in Africa,
Australian punters in East Africa are so fed up they would be unlikely to risk it in South West Africa, although you are dealing with a much better rule of law.(Many thanks)