You state, “They thought it would have gas and would make everyone rich but it didnt...” I don’t know how you came to this conclusion. Did you read the anns on BC?
You may recall a post of mine earlier this month – they clearly did not think BC would have much gas at all. Just look at the anns from 18-25 May. Here's a summary: - 18 May: Barker Creek lithology - marine sandstone with the background gas steady between 10 and 20 units. Shale has been increasing with depth. (PB1 Barker Creek displayed up to 2313 units of gas over 220 ft) - 21 May: A gas show of 207 units in fractured limestone over 10 ft. Background gas after this show ranged from 18-25 units, but mud weight [a sign of things to come] suppressed background gas. - 22 May: Barker Creek: 61 ft gas pay. - 25 May: Barker Creek 1: no shows but 18 ft net pay at 6.0% porosity Barker Creek 2: show zone of 12 ft net pay at 6.0% porosity Barker creek 3: no shows but 22 ft net pay at 6.0% porosity.
My reading of this was that PB2's Barker Creek was nowhere near the find that PB1 Barker Creek represented, and unless the current testing and fracturing could open the resource somewhat to improve gas units, PSI and flows, etc, by linking back to the PB1 BC gas for example, the first set of test results now out were bound not to be very exciting, just as the above summary did not indicate anything very exciting.
But that, of course, is not the end of the GDN story!!!
GDN Price at posting:
11.6¢ Sentiment: Hold Disclosure: Held