The COS is not the begin all and end all of an investment .
The size of the prize compared to the cost to enter the lottery has to be taken into account to .
The RISKED value of the investment ( or the gamble if you will ) is the key to success .
Luck no doubt plays a part but if the analysis of the projects entered is done with skill and discipline so that the COS's generated have realistic and verifiable value then the part luck plays falls away as the number of plays increases.
Imo the success of oil exploration lies in taking part in the best Risked valued projects .
Need to look at the size of the prize , the cost of the gamble as well as the COS.
On that basis GC1 was a Dog and I believe the Talitha well was not.
It is a pity they did not or could not take part in the drilling of this well .
It spells out the malaise this business is suffering.
Talitha-Alaska, page-784
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