>2)....reducing the risk of drilling,wihout having ever turned the drill bit...

I can't say for sure, I have not studied this new technology, I am not sure it's resonance based but if it is, in medicine, Magnetic Resonance Imaging (MRI), works by throwing out a strong magnetic force which align hydrogen atoms in a weak crystalline fashion hydrogen which of course is what water is 2/3 of. Then radio waves such as microwaves are adjusted at different frequencies to start a rotating magnetic field giving off signals that a scanner could pick up. That is why MRI's are much better at picking up the brain (Water) than a CT scan X-Rays which Images are formed by differentials of density penetrating through the body and absorbed on photosensitive rare earth material.

I don't know if this technology is a branch of this or not, but if it is, it should be very accurate, as long as it is downhole, I could not see it being possible from the surface.

It seems to me you would need to surround the water with a electromagnetic coil as well(how could you do that in a well), but who knows what someone has figured out.

Visioneer