However, the Sunday Times has caused the board to release a statement this morning saying the drilling has not been successful for thier first well. There are 5 more but this is a big setback and the shareprice will react accordingly.
Shame for all those who were gambling on it.
6 comments:
Shame for Britain too.
5 more wells to drill, they know there is oil, but finding it is tricky!
troubel too in the form oof
New northern dialect, CUS?
"5 more wells to drill"
..as in they pay for 6 permits to try and hit the black stuff and if they don't, then they have to buy more permits?
If they know it's there, why can't they just buy one permit and keep plugging away until they hit it?
Cheers,
Anon.
Anon - the 'where' is a bit important, the well points are spread over hundered of square miles. The permits are for geographical areas, one permit, one area.
Never mind. Chariots of Fire has done well(sic). Thanks.
Venturex(ASX)
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