Depends what they mean by "low." Is it going to flow gas and if so how much? 10 Mscfd, or 500 Mscfd? Big difference. I suspect they have an idea because it's easy to conduct a flow test while air drilling, you just stop circulating air. So they have probably conducted a number of them already.
We need to wait til they report the flow rate. It doesn't look great at this stage, but you can never completely rule out a horizontal well drilled in a heterogeneous tight sand until it reaches TD. You never know when you might drill into a permeable streak or an open fracture.
CTP Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
