Can someone tell me if it sounds like this well will produce

I have royalties in producing wells. There is also a lease in a nonproducing area .There has been activity in one well that they said was to be used for water storage. The mud log I read (and I am not a geologist ) read that a good to fair amount of oil show. And there was an offer made but was not taken. Now, two years later that same well is being reworked. They are perferlating at at between 3400 ft to 3907 feet. And run for RWTP & TEST. Aldo, MIRU, BE TREES, MY BOO , TH OPEN ENDED. I have no clue what this all means. It seems to me there is alot if activity going on just to use well for water or am I wrong? Anyone out there that can clarify. Mud log showedoil stained sand from 3400 ft all the way to almost 4000 ft. The well depth is 4020 ft.