When you are drilling production wells you should be at least in the high 70's for successful wells. Having a 15% success rate is unheard off. I would hesitate to say that 15% rate for an exploration well, is extremely poor and most junior oilers wouldn't drill. Comparing mad to bhp, wood side, beach is silly. No way am I saying that.
In a way I feel for Yeager, he hasn't got much to work with. Strange he hasn't changed direction and bought new acerage or a field.
FDM Price at posting:
27.5¢ Sentiment: Sell Disclosure: Not Held
