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09/01/14
12:53
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The odds are as good as you can get with an elephant - as a great poster once said!
Let me put it in Russian roulette terms for you:
Assuming the chamber has been spun, lets see if we are a duster or not....
Standard revolver 6 chambers, ironically exploration wells have about a 1 in 6 chance of discovery.
Assume 6 players and a six-shot revolver, lets see if we are left standing.
A has a 1 in 6 chance of eating lead; if A survives,
(discovery of gas well within pre-drill estimates, my guess 6TFC)
B has a 1 in 5 chance of death; if B survives,
(hotcopper experts say commercial discovery is nearly a certainty - range of opinion over 50% to 95% certainty)
C has a 1 in 4 chance of death; if C survives,
(Production testing well, do you production test duds? Unlikely but never a certainty,positive either way)
D has a 1 in 3 chance of death; if D survives,
(ENI's success rate historically about 40% on commercial discoveries)
E has a 1 in 2 chance of death;
(Our current odds in my opinion, better than casino odds)
Will E survive or F,
F for failure and E for enjoying a nice bottle south of France !
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