A "stabilising" water rate of 200 to 250 BPD is not a good sign at all IMHO. The rate should be continually decreasing as they remove all water from the seams, so it's highly suspicious that it is stabilising and not running the wells dry. If they can't remove all the water then it is likely they won't be able to obtain higher gas flows because the seams will remain under water pressure, trapping the gas. I wonder if they have hit an aquifer or other water source? That would explain why the water remains of a "pleasing" quality.
BLU Price at posting:
3.5¢ Sentiment: None Disclosure: Held
