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Exploratory Drilling Program Meaning & Definition

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Definition of Exploratory Drilling Program

Exploratory Drilling Program is an investment in a DPP that engages in the drilling for oil or gas in new areas seeking to find new wells.

Applying "Exploratory Drilling Program" to Securities Exams:

Investing in a wild catting or exploratory drilling program can be extremely risky as many of the programs do not hit oil and do not find productive wells. Investors will purchase interests in a direct participation program to fund the exploration and drilling.

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