RE: Attachment23 Aug 2019 16:29
Let us indulge in some" grown-up talk"...shall we? Facts: a; most of the worlds easily accessible oil fields are now gone or severely depleted, b; new technology (in the main "horizontal" drilling) will only produce, in most cases, very limited results, c; drilling for oil and gas is just that -- drilling speculative holes in the ground, d; everybody, including the BOD, experts and engineers can only hazard an opinion on the probability of finding commercially viable reserves of whatever they are drilling for, e; moving a rig 300, or even a 1000...or more, yards to the side of an existing one is not very likely, in the greater majority of attempts, to hit a rich new source of undiscovered wealth. In short: the investors, large and small, and the BOD are taking an educated punt! The long and short of it all is this: we, and everyone else, are investing money in a gamble. And it is as simple as that!!