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Sunday, May 22, 2022 3:48:50 AM
1) The odds of drilling and hitting an oil well in a known reservoir area is not 100%. Although I didn't verify it, one article I read said it was 10%. 2) When Givot Olam hit a commercial oil well, the investors expected to be paid dividends, instead, the company hit them up to invest even more so they could expand to 40 wells drilled on their new found reservoir. Needless to say, the money wasn't forthcoming from the investors, who were irate to say the least, and no further wells were drilled based on the commercial well they had.
Givot Olam never paid a penny in dividends.
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