By Schlumberger
dry hole
1. n. [Drilling]
A wellbore that has not encountered hydrocarbons in economically producible quantities. Most wells contain salt water in some zones. In addition, the wellbore usually encounters small amounts of crude oil and natural gas. Whether the well is a "duster" depends on many factors of the economic equation, including proximity to transport and processing infrastructures, local market conditions, expected completion costs, tax and investment recovery conditions of the jurisdiction and projected oil and gas prices during the productive life of the well.
As one can see, the same word can have two connotations or meanings.
When looking to invest, one should always do their own DD and research the Company's SEC filings for a truthful and up to date summary of what has taken place and what is going on with the company that they may want to invest in and what the prospects of any future business plans and models may hold for the Future of the said company.
Remember, in no way has the past economic performance of a company been an absolute indication of any future results.
Have a Wonderful Day.
Sneak
