Downhole tool with magnetic bypass seat

1. A check valve comprising:

a magnetic plug having an outer surface, wherein said plug has a magnetic polarity which is the same polarity across said outer surface;

a magnetic seat, wherein said magnetic plug and magnetic seat operationally engage so as to have a magnetic resistivity such that said magnetic plug has a first position in which it is not sealingly engaged with said magnetic seat and second position where said magnetic plug is sealingly engaged with said magnetic seat.

2. The check valve of claim 1 , wherein said magnetic resistivity between said magnetic plug and said magnetic seat retain said magnetic plug in said first position until a predetermined pressure is applied to said magnetic plug, thus, overcoming said magnetic resistivity such that said magnetic plug moves to said second position.

3. The check valve of claim 1 wherein said magnetic plug is a ball plug.

4. The check valve of claim 3 wherein said ball plug has an outer surface and a plurality of magnetic inserts arranged in a symmetrical pattern about said outer surface of said ball plug.

5. The check valve of claim 4 wherein said symmetrical pattern has icosahedral symmetry.

6. The check valve of claim 1 wherein said check valve comprises part of a downhole tool for use in a wellbore having:

a mandrel having a central bore defining said magnetic seat wherein said magnetic seat has magnetic inserts positioned about its surface;

a cage attached to said mandrel and which limits longitudinal movement of said magnetic plug;

an anchor assembly disposed about said mandrel which engages said wellbore to anchor said downhole tool in place when said downhole tool is moved from an unset position to a set position; and

a sealing element disposed about said mandrel which sealingly engages said wellbore when said downhole tool is in said set position.

7. The check valve of claim 6 , wherein said cage and said magnetic resistivity retain said magnetic plug in said first position until a predetermined pressure is applied to said magnetic plug, thus, overcoming said magnetic resistivity such that said magnetic plug moves to said second position.

8. The check valve of claim 7 wherein said magnetic plug has an outer surface and a plurality of magnetic inserts arranged in a symmetrical pattern about said outer surface of said magnetic insert.

9. The check valve of claim 8 wherein said symmetrical pattern has icosahedral symmetry.

10. The check valve of claim 1 , wherein said magnetic plug is free to rotate in relation to said magnetic seat.

11. The check valve of claim 6 , wherein said magnetic plug is free to rotate within said cage.

12. A method of using a downhole tool of the type that has a mandrel with an interior surface and an exterior surface, an anchoring assembly disposed about said mandrel and a sealing element disposed about said mandrel, said method comprising:

(a) providing a magnetic plug to said downhole tool under a first pressure wherein said magnetic plug has an outer surface with a magnetic polarity which is the same polarity across said outer surface, and wherein said magnetic plug is operationally associated with a magnetic seat defined on said inner surface of said mandrel so as to have a magnetic resistivity such that said magnetic plug is not sealingly engaged with said magnetic seat at said first pressure;

(b) introducing said downhole tool into a wellbore to locate said downhole tool at a desired position;

(c) moving said downhole tool from an unset position to a set position in which said anchoring assembly anchors to said wellbore so as to prevent movement of said downhole tool and said sealing element seals against said wellbore; and

(d) applying a predetermined pressure to said magnetic plug wherein said predetermined pressure is greater than said first pressure such that said magnetic resistivity is overcome so that said magnetic plug is moved into a second position where it sealingly engages said magnetic seat.

13. The method of claim 12 further comprising providing a second pressure to said plug greater than said first pressure and less than said predetermined pressure wherein said magnetic resistivity prevents sealing engagement of said magnetic plug with said magnetic seat at said second pressure.

14. The method of claim 12 wherein said magnetic plug has an outer surface and a plurality of magnetic inserts positioned about its outer surface.

15. The method of claim 14 wherein said magnetic plug has said magnetic inserts arranged in a symmetrical pattern about said outer surface of said magnetic insert.

16. The method of claim 15 wherein said symmetrical pattern has icosahedral symmetry.

17. The method of claim 12 , wherein said magnetic plug is free to rotate with respect to said magnetic seat.