I completely agree that oil exploration is a highly speculative...

I completely agree that oil exploration is a highly speculative and hence risky business. It appears that you are taking an each way bet in your post. You say the future is always a blank canvas and yet you believe that past wells dictate what future wells will be, even though some of these wells were in a completely different area? I'd question myself on that if I were you. If we all thought that the past sets the future in stone then we'd have never left the caves...........

​

Each well drilled in a particular new field is effectively exploratory and helps the geologists to build up a bank knowledge of the field, with the view to unlocking secrets that will hopefully enable oil extraction in the future. No well is wasted. Paul Basinski, the geologist who helped discover the Eagle Ford in Texas had that philosophy. Even the most ardent critics here concede that this is the most promising 88E drill so far. I'm a speculator in 88E, with only a small percentage of my whole portfolio in it. I'm happy to wait for events to unfold, free of the stress of those that speculate way beyond their own comfort zone and then try to palm their stress off onto others, attacking holders who are guilty of having a relaxed and positive outlook in investments and in life.

Whatever our personal wealth, goals, stress levels or walk in life, good fortune all and have a relaxed and happy Easter with friends, family and pets. ​