Clearly they believe they have something significant in Leadville...and as I have been saying, have concerns the significant mud weights at this depth (7000psi or so), will impact on gas inflow to the well bore from all but the most highly pressured zones.
I suggest a 300 unit gas "show" under current mud-weight conditions mighr have otherwise registered as 1000 or more nearer surface.
As I have said previously, I believe Leadville may be relatively tight at this location, but still economic over the apparent wide zone of background readings...which of course may well be significantly enhanced by the obviously more porous zones of "gas shows".
I think the concern at the rig might be for possible damage to the limestone formations, which if proven to be potential producers, may well be cased off prior to continuing on to McCracken and Lynch?
As I have been saying recently, we appear to have drilling muds applying approximately 7000psi to the "skin" that forms on the formation walls...any gas that manages to infiltrate the well during "trips" must be under significant pressure in the formations.
One would expect such pressures, when consistently found in muds on every "trip" to be potentially economic in nature?
Cheers!
GDN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
