3 out of 7

[sageo]

From transcript:  "Now, of course, we would like every exploration well to come in. But as we push into new and more frontier areas in our licenses, that is statistically improbable. The typical strike rate for a global exploration is about one success for every 10 wells. In the Gulf region, which is underexplored, we have a strong success rate having found gas with three of the seven wells we have drilled."

Question:  If we have had 4 "no-discovery" wells as Hession states, which ones are they ?   ELK-2 plus ... ???   Is he going way back in history ?

The exploration wells that IOC has drilled are :
1. Moose-1
2. Moose-2
3. Sterling Mustang-1
4. Black Bass-1
5. Triceratops-1
6. Elk-1
7. Elk-4A (Discovered Antelope by accident)
8. Triceratops-2 (This well should have been called an appraisal well based on the 1959 Bwata-1 discovery but since IOC and their drilling partners had drilled Triceratops-1 as an exploration well and called it a dry hole, Triceratops-2 was called an exploration well.

Elk-2 was a dry hole but it was an appraisal well to follow up the Elk-1 discovery. Elk-3 has not yet been drilled.

Now drilling:
9. Bobcat-1
10. Wahoo-1
11. Raptor-1

This may not be perfect but it is pretty close.

Pet- Pretty close "and a cigar"! Good job,sir.Concerning Triceratops,when I looked at the new 'proposed T3 location',I started to wonder so I went back to March and May of 2011 to review the contour maps of that time-frame.It appears that they now believe more strongly that this rise in the formation to the north(and slightly westward) has more merit than first believed.Could their thinking now be that the lower zone encountered in T2 (which was water-filled) is at a higher elevation in the proposed T3 and might contain oil? I remember vaguely about some oil-talk in T2 at some point. Maybe I'm just "reaching" again,but it seems at least a possibility TIA for your thoughts.