BBC NEWS | Science & Environment | 'Misty caverns' on Enceladus moon Good in terms of possible life. Good in terms of colonization. Liquid water is needed for practically all industrial processes. It's very energy-intensive to create or transport water (it's very heavy as you probably know if you've every carried an aquarium), but if it's all there, that solves a big problem. Of course the small moon has other issues (lack of atmosphere and magnetic field) but it's less problematic than a moon thick with poisonous gases and no liquid water to speak of.