guys PYM has a bit more explanation : read this from the PYM announcement
ATOCHA PROJECT UPDATE • Perforating and flow testing of the HM Brian No.1 well in the Tuscaloosa sand, at a depth of just over 17,000 feet, is planned for next week, following which the results will be announced. • The leak in the casing is currently in the process of being rectified. Perforating guns and an isolation packer assembly, to perforate the well, are currently being lowered and are being set in position. • Results so far of both the pulse neutron cased hole log, and the cement bond log, have confirmed the thickness, the presence and the permeability for natural gas at the expected zones, in accordance with the original well log data produced by Shell Oil in 1980. • It is worth noting that in the event the well flows natural gas, a well bore is within 200 yards of an existing gas sales pipe line with other commercially viable options & infrastructure nearby. • A second Tuscaloosa formation has now been confirmed as having gas production potential.
FUT Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
