Its another non event.
The company had to produce from UTAH #2 or it would have to pay and plug and abandon the well.
Marion is close to losing the Clear Creek leases if it does not either make Utah #2 a producer or the well had to be plugged and abandoned.
So what have they done.
They have turned on the gas tap again, so it can be called a producer, even if the amount it produces is totally pathetic. They have avoided plug and abondon costs and they are allowed to keep their lease.
The gas they produce from this well will be next to nothing. Its all about keeping the leases and avoiding the P&A costs.
If you haven't studied the Utah Oil and Gas Website you would not know this and you might think its all good.
When the real production figures, and revenue received are finally released many will be dissappointed.
Expect to see news of Utah 1, 3, 8 and 10 shortly.
These four wells must be producers or be plugged and abandoned The deadline was 31/12/2010. Marion is fighting to keep this out of the courts too.
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