ERHC Energy Inc (ERHE)

[nordicroots]

The sucess ratio is often a function of the quality of the prospect itself (courtesy of mother nature) as well as the caliber of the geological and geophysical team they have working on the effort to assess and analyze the prospects and then develop the well drilling program. (Maybe its all well understood and should go without saying, but it is also very much dependent upon the quality of the information they have to work with so they make good decisions at each step in the process.)

I seem to recall that Tullow (also operating in the region) has a pretty decent success rate as well. One of my geologist friends went to work for them a few years back and given his track record at finding oil while he worked at Aramco on the Arabian Penninsula I got the impression they were happy to have him on board to help their team realize similar successes.

I certainly understand, appreciate and agree with your thinking about the wide range of odds for individual well success. There are a lot of variables at play that can influence outcomes.