I think today's announcement is a positive. They drilled this well with no seismic, and their theory is based on some good geological work and extrapolating what they know from Ash Creek. I didn't expect them to hit anything but they have encountered gas shows/indications over 2,500 feet.
This confirms for me that this is a gas prone area and if they drill enough wells they will find a commercial accumulation sooner or later. And I bet it will be a sizeable field.
Also, the teapot and parkman sands had higher gas readings so that augers well for when they test these at Ash Creek.
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