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[sharechat] Re.Re. NZRC.

From:	"Earle Tute" <e_tute@clear.net.nz>
Date:	Mon, 7 May 2001 11:51:46 +1200

Hugh,

enjoyed your nzrc post. Would like to make one comment on your statement about the rate of new discoveries. Surely this is tied to the price of oil? It's not worth drilling very expensive holes in the ground for $10 oil, but a very good idea for $27 oil. Modern 3D siesmics and directional drilling give a far higher "hit" rate for "wildcat" wells than in the past, but at a far higher cost.

Have Fun,

Earle.

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