Posted by tweetypie...
The evidence we already have on this specific drill is the quality of the partner on the drill ie; a big successful & experienced partner, namely Beach Petroleum, who certainly would not be involved in this drill if there wasn't a better than average potential of a commercial find imo!
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LOL this is a new form of optimism, BPT is a quality partner and they wouldnt be involved if better than average success rate. Ok so i assume by this that everything BPT touches turns to gold and that they are the lord and master of the oil/gas industry.
One has to ask the question, why arent BPT funding the drill themselves? why are there so many farm-in partners, if they are so confident why dont they just buy them out...i mean its a better than average chance? And why is BUY taking the risk for only 20%?
Hmmm maybe its not such a sure thing, Not everything is that simple im afraid.
wakefield 1 well - spud ..., page-32
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