i reckon this is very positive announcement. PFC take care to note that the well has not proved up any reserves as yet, but the results lok very encouraging. its clear now why they took so long - they had to plug back and re-drill Baldwin-2HST1
the well was drilled 875m directionally along the Hot Shale - so they have proven the drilling capability
they recorded gas peaks up to 2,500 units and recorded the presence of C5 - this is a good indication that the fluid may contains liquids and not just dry gas. liquids will be worth alot more than just dry gas.
they observed natural fractures and PFC modelling predicts good reservoir properties for fracturing, which is essential to get good flow
BKP Price at posting:
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