[GooperMC]

You friend has a reasonably strong hand here. He has the second nut flush draw and the second nut low draw with a gut shot wheel draw.

I play K high flushes reasonably strong (you will only run into the A high flush 1/3) and I would play the second nut low draw reasonably strong (I would guess that you will run into A/3 about 1/3 of the time).

My guess that that your friend will have odds to continue but I agree with Joshua we really need to know the amount of players in the pot, action on each street, and size of the pot to really analyze the hand.