There is a method of determining properties relating to an underbalanced well, comprising inducing pressure variations in a fluid within a well, measuring the pressure variations, and calculating pore pressure of at least one fluid-producing formation. The pressure variations cause a change in flow rate from formations along a length of borehole, and as such a change in the production flow rate of the well. The variations in pressure are used to calculate the pore pressure. Variations in annular bottomhole pressure are induced by altering the flow rate of drilling fluid, or the density of drilling fluid or by acoustic pulsing downhole. The pore pressure, permeability and porosity of the formations is derived as a real time profile along the length of the borehole.