I would disagree with that. They've spend a lot of time analyzing that seismic and using the latest tools available. See the virtual drilling info sheet from Rex International: http://www.rexih.com/pdf/02-RVD1.pdf
This is the company and software they used to analyze the seismic. It shows a very high success rate. Let's also not forget that after viewing all that data Perseville bought out all minority holders. Would they really do that if they think chances are slim to make money ?
After spending all that time, money and energy it would surprise me if they didn't hit oil on baikal#1