Originally Posted by bhutocracy

Ok so I've proven you wrong, in that you don't know there wasn't a "little oil" and they're just talking about traces on a gas chromatograph or something that wasn't even worth evaluating.. Will you still keep arguing like you have a leg to stand on?

A company will often sink multiple wells but often a single strategic well can rule out multiple prospects. It all depends on the geology, migration pathways, homogeneity of the trend etc.

I'll admit with $200 oil they'll be back up there (in a different area) but there are whole other reasons for that, like necessity rather than or as well as pure economic incentive. That's a whole separate argument to Robbie's. You complained I believed what I read in the paper but you just took the company's word at face value. All companies will try and put a positive spin on a bad outcome or blame other factors.
If the drill was in any way positive they would have continued. Actually, they would have announced a find of some description and talked it up even if it was shit, talked about low oil prices and how they would use the current situation to renegotiate contracts for lower rig rates and basically just put the whole thing on slow burn for a couple of years. The fact they couldn't even save any face at all and just junked the whole area says a lot about how bad the results were and what they said about the area.