"A fifth level (5.5Ma) exhibited gas shows within a poor quality reservoir that may have potential for improved reservoir characteristics elsewhere."
The JV thought that CO2 levels were manageable if the flow rate was high, I believe.
From NEN's Black Friday, "Although gas flowed during the test, poor reservoir deliverability combined with high carbon dioxide content suggests development of the reservoir at THIS location is unlikely".
I'm left thinking that the CO2 may be manageable, if better permeability/flow rates were found at another location, perhaps at the same general area/play, similar to what was stated with regards to the fifth level (5.5Ma). "may have potential for improved reservoir characteristics elsewhere."
Or maybe I'm just dreamin :)
NEN Price at posting:
7.0¢ Sentiment: Hold Disclosure: Held
