Explorers court investors with growing trend of prospect volume and risk disclosure
We review the growing transparency of forward exploration programmes. Explorers, led by Small and Mid-Caps, are revealing prospect details including pre-drill volumes and risks. Over the past five years they have established a healthy track record of prediction accuracy. Over 95% of announced wells are completed within the year and around 80% of predicted volumes have been discovered. We expect the quantity of prospect disclosure to continue rising.