I wonder if they could pull out another update by the end of March. We need something positive to happen in a fairly short time I suspect.
The last update was not really negative and does point to a helium strike. Just technical difficulties encountered that need to be rectified. Indication that testing will be done in the "next few weeks".
Some helium gas was seen while drilling, however due to subsequent water invasion of the top part of the Lyons formation where gas is interpreted from logs, no test has yet been able to be conducted to obtain a gas sample for compositional analysis. A testing program is currently being formulated to obtain a gas composition from the top of the Lyons, notwithstanding the invasion of the reservoir and fluid in the well bore. Implementation of this testing program is targeted for the next few weeks.
BNL Price at posting:
4.4¢ Sentiment: Buy Disclosure: Held
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