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Oil and Gas Production 101: Improving the odds - why shale really is revolutionary

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LONDON, July 7 (Reuters) - Exploring for oil and gas is like gambling: it's all about playing probabilities, and using technology and skill to improve the odds.

Until a well is bored into the ground - possibly thousands of feet below the surface, at a cost of millions or even tens of millions of dollars - it is impossible to know for sure whether it will find hydrocarbons in commercially producible quantities.

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