Yeah but ... "The Company has received right of way access for a pipeline and is in the process of completing a gas sales agreement with Gulf South to commercialise this discovery."
... so it must ALREADY, even without the specific analysis testing, to be deemed likely at least to be commercially viable (that's how I read it).
See more below (from GGP announcement)...
Napoleonville-- Dugas & Leblanc #1 Well, Assumption Parish, Louisiana, 15% WI
Following the announcement dated 9 July 2010 the Board
advises that the Dugas & Leblanc #1 well has been completed
to 7,802 ft, the Rig has been released and a completion rig is
expected to arrive on Monday, 26 July 2010.
Following detailed interpretation of the Paleo results of the well it
has been confirmed that the 3 zones of interest that were
identified whilst logging the well were Big Hum sands.
The Joint Venture has decided to deepen the well to determine
the presence of Operc sands. The Completion Rig will be able to
conduct this deepening exercise and it is expected to take 4 days to complete.
Once the well has reached its final depth electric logging will be undertaken to determine the commerciality of any
Operc sands identified. If these sands are determined to be commercial a development well will be required to
commercialise these lower sands as the reduced well bore size will be inadequate in this well.
Following this exercise testing of the identified 3 sands will commence. Electric Log results of the Dugas & Leblanc
#1 indicated over 120ft of net pay (both oil and gas) over three sands.
The Company has received right of way access for a pipeline and is in the process of completing a gas sales
agreement with Gulf South to commercialise this discovery.
The Big Hum and Operc Sands are an amplitude anomaly targeting 1.2 MMBO and 3 BCF gas. If the well is
successful initial flow rates are expected to be around the 200+ barrels of oil per day and 1,000 MCF per day.
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