BRubes, all I can say is this. 3000 units of gas, on a 50 unit scaling is 60% gas in air. This is good man!
PB1 sounds promising, but notice how the flow rate was varied substantially, the announcement makes it sound as though the average was 2, maximum was 6, and minimum undisclosed. The whole idea of buildup is to allow time for the gas to escape the water down well. The "obstruction" they talk about sounds like casing has imploded due to excessive formation pressure, which is bad when attempting to isolate gas from other inputs.
Water is bad because it makes it harder to liberate gas, makes the well less efficient, and reduces production capacity per day. You dont want water coming out of your well and entering gas pipes to UTAH. Just imagine what it would do.
Now, a worst case scenario here that no one has considered. PB1 is still a production dud.... HOWEVER, it is EXCEPTIONALLY CLOSE TO PB3. My thoughts are this, PB1 won't be used for production, instead it will be used as an injection well to help pressurise and promote PB3 proudction. The gas zones SHOULD be interconnected.
This is simply an attempt at explaining things from someone who works on oil and gas wells. Im not an expert. Just food for thought
GDN Price at posting:
5.4¢ Sentiment: Hold Disclosure: Held