Exploration risk: substantial, long-term investment does not guarantee discovery
First written in FY2016. 2 of 3 entries say "Restated". Latest entry: FY2020.
3 other companies' latest entry also says "Restated".
- FY2020RestatedAnnual report
「Even with the advanced exploration technologies available in recent years, geological uncertainty cannot be eliminated, and the expected quantities of crude oil and natural gas may not necessarily be discovered.」
Continues to disclose the exploration-specific risk that the size of a discovery cannot be guaranteed even with exploration technology. - FY2017RestatedAnnual report
「Our Group's business is inherently high-risk. The exploration phase, from initial basic surveys through drilling to the discovery of resources, requires substantial investment and a long period of time, while resource discoveries are not guaranteed.」
Reconfirms the exploration-specific risks of substantial investment, lengthy timeframes and uncertainty regarding discoveries. - FY2016First statedAnnual report
「Our Group's business is inherently high-risk. The exploration phase, from initial basic surveys through drilling to the discovery of resources, requires substantial investment and a long period of time, while resource discoveries are not guaranteed.」
Explains substantial investment, lengthy timeframes and discovery uncertainty as inherent business risks.