What do you guys think the chances of finding economical gas in the deeper shale zone of the Y-1 well?
My guess is 40% what do others think? Am I high or low? Also, IF they find economical gas in the deeper zone does anyone think there is a chance they would actually concentrate on that first and bypass the expected gas in the shallower zone for the time being?
For Lurker or others, more knowledgable on the technical side, does this well with the retro fitted high pressure well head have the ability to produce commerial gas from the deeper shale zone?
My thoughts are, that if they could, even if the amount produced is less than the conventional shallower gas, the results would add far more value and attention to the stock than if they just added a well similar to the last well tested. Plus this could bring in $ through a deal to farm out the deeper part of the basin.
Lastly, for anyone who does not have access to level 2 type info., Friday Scotia left a lot of .73 and .74 bid shares on the table late in the day. In fact, early afternoon there were several 100k shares at the bid @ .70 to .74 and most of those orders did not fill. I am hoping they have peaked on their selling as they only sold 42.7k shares Fri. well down from their average with them selling about 4.3 mil shares for the month.
I am guessing for news of some type this week, if nothing else an update that gas in now flowing through the newly added pipeline.