Its a three way JV - Bridgeport may also have seen it as prudent to wait for O2 results. The recently public reports on Beckler 7 and 8 indicate that the JV should look into different drilling techniques for O3, which would take time to plan out. The flow and decline rates by drilling the patch zone underbalanced look very attractive. Moreso, O3 'accessing gas not addressed by the previous two wells' implies an additional element of risk.
Would've been a bad move to push ahead, especially when cash can be used in a lower risk manner to remediate Vali wells and change zone at O1.
Its a three way JV - Bridgeport may also have seen it as prudent...
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