Oh man!
Thats a hell of a pickle. If i was in your boots, i would call the well guy first and see how much to yank it out. They are set up to do it. and make quick work of it.
I helped a friend about 10 years ago replace his well pump. It was only about 190 feet down, but the well driller guys had it up in less than an hour. New pump, new pipe, and new cable installed by me.....some previous owner had 'red-necked' the cable job - used 4 sections of household plastic sheath cable with normal connectors....moron.
I was called about 9:00am that morning...arranged the cable and went to site (an hour away) and it was all over about 3:00pm.
Seriously.......consider calling the experts. The last thing you want is this home job going wrong. You already realise how vital your water supply is. Don't go making the situation worse.
