Most well cables I've seen have three or four wires, one of which is green. Mine were all capacitor start. Is it a pre-fab cable or a homemade pair of wires? #12 seems kinda small for a well that deep. A megger would determine a ground fault. There should not be any circuit to ground on any well pump I know of. Megger it disconnected to eliminate any damage or misreadings due to control components. Could be the wires going to the pump instead of the motor. They're pretty long and can be damaged by improper installation. Any continuity across the winding? If so, both legs will show a ground fault. You said it doesn't work, but shows 10 lbs when powered. Is it running? If so, it could be a control problem. Are you using an amp clamp? Most likely it's pull the pump time, though. Big bucks...ask me how I know!