New to O&G speculation are you?? They said last week that they were at TD and would test the well. Obviously testing the upper most section where oil was encountered was enough to tell them that the reservoir was of poor quality and the oil (and any associated gas) was not going to be recoverable. You would have to assume that from the drilling they were able to determine that the lower part of the "oil leg" had the same characteristics as the upper part.
They now know to look for better quality sands ... but they know the petroleum system is there ... that's good news.
H
OIP Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
