James, You are correct as Cabot geologist believe something is down there. Find this link to confirm your speculations.
link to the approved permit. It mentions production in a dolomite at around 4700’. That would be consistent with all the vertical wells drilled recently by MFC just NE in Ashland at around 5000’.
Looks like they're gonna try a horizontal Knox/Beekmantown well.. interesting to see how it works out.