 A number of options between PCL and the trucial rulers were signed, providing useful revenue for communities experiencing poverty following the collapse of the pearl trade.However, the wealth of oil which the rulers could see from the revenues accruing to surrounding countries such as Iran, Bahrain, Kuwait, Qatar and Saudi Arabia remained elusive.The first bore holes in Abu Dhabi were drilled by IPC's operating company, Petroleum Development (Trucial Coast) Ltd (PDTC) at Ras Sadr in 1950, with a bore hole taking a year to drill and turning out dry, at the tremendous cost at the time of £1 million.