nathanblack, as init says it is a tight rock. The flow rates are unlikely to be commercial even after fraccing.
The excitement with P1 was the Leadville. Drilling through all that (unexpected) salt to a prospective 3tcf. The shows in the Ismay etc. were regarded as just that - shows with a promise of more to come. The pot of gold was deeper. When Leadville was a dud is when they shd have abandoned the prospect, IMO. IF P1 was commercial, they should have proved it up first, before drilling P2. Instead, they shut it in unproved. Why?
The other company is aiming for gas in a cracked chalk formation. They do not anticipate having to frac their current hole at all. Each well is assessed for commerciality, completed and connected to the pipeline before moving on. Why? Because it gives cash flow. And creates confidence in management.
GDN Price at posting:
8.8¢ Sentiment: None Disclosure: Not Held
