American International Petroleum Corp Message Board

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Gold/Mining/Energy : American International Petroleum Corp

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To: anyer who wrote (5640)	12/8/1997 10:55:00 AM
From: qdog	Read Replies (1) of 11888

Anyer, you have to be careful about throwing numbers around like that.. Once you make a discovery, your sucess rate goes up as you drill wells to delineate the field. Absolutely true that new technologies such as 3-D has improved the rate of success. If you look at overall drilling when talking wildcat those rates are 1-3. At the present AIPN isn't doing 3-D. It's an expensive study, far more than 2-D. It just not a matter of processing exisiting data. It is depended on how you set the grid of sensors in acquiring your siesmic. That's part of the increased expense. The other is the actual computational time. AIPN has a slight advantage on this lease in the fact that drilling has occurred; however, to date only one well out of 17 is "reported" to encounter hydrocarbons. 17 wells on a block this big is insignificant. They could go back to the area of encounter hydrocarbons and drill 5 in a row successful, then go elsewhere on indentified structures and drill a duster or insignificant show. In the oil biz there isn't absolute guarantee.

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