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How a big bet on oil went bust
Article from Bulletin/Magazine
Fortune vol. 161 no. 5 (Apr. 2010)
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In the summer of 2008, Erlend Olson thought he had finally hit the jackpot. A bit player in semiconductors for years, the former NASA engineer had made an improbable metamorphosis into a burgeoning oil-exploration kingpin. His company, Terralliance Technologies, a secretive startup in Newport Beach, Calif., had developed an algorithm for telling petroleum engineers where to drill.
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