PYM 0.00% 0.0¢ pryme energy limited

internet info

  1. 222 Posts.
    For what its worth this info copied below was on the internet ...found whilst resarching competitors also drilling in Cotton Valley.

    I cannot verify if the first paragraph below refers to Pryme's "spinks middlebrooks" Raven well... however Nelson Energy was the JV partner/ operator, the depth is exact, the date of completion exact... and the production flow results are better than expected. Possibly this is an adjacent well... either way the results give an indication of what to expect... which is EXCELLENT!!!

    the additional results from wells drilled by KSC resources just go to show the consistency of the gas production flow rates. the blanket coverage geology of the cotton valley formation would suggest Prymes Raven wells will all produce in a similar fashion.....


    >>>>

    COMPLETIONS 01 July 2007

    Lincoln Parish

    COMPANY: Nelson Energy Inc., LCV RA SUY; Reed Et Al: 1-Alt., 235058. WHERE: Terryville Field, S. 14, T. 19N, R. 5W. DAILY PRODUCTION: 1,900 mcf gas on 32/64-inch choke; 32 barrels 46 gravity condensate; 245 barrels water. PRESSURE: 1,000 lbs. SPECIFICS: Lower Cotton Valley RA; perforations, 9,622-10,870 feet, depth, 10,946 feet.

    (http://www.shreveporttimes.com/apps/pbcs.dll/article?AID=/20070701/NEWS05/707010315/1064/NEWS05)


    Lincoln Parish COMPLETIONS 15 July 2007

    COMPANY: KCS Resources Inc., LCV RA SUI; Sidney McCullin et al 16: 1-Alt., 235344. WHERE: Terryville Field, S. 16, T. 19N, R. 4W. DAILY PRODUCTION: 3,725 mcf gas on 18/64-inch choke; 50 barrels 48 gravity condensate; 667 barrels water. PRESSURE: 3,700 lbs. SPECIFICS: Lower Cotton Valley RA; perforations, 10,188-11,022 feet, depth, 11,250 feet.

    COMPANY: KCS Resources Inc., LCV RA SUTT; Napper 15: 2-Alt., 235201. WHERE: Terryville Field, S. 15, T. 19N, R. 4W. DAILY PRODUCTION: 3,274 mcf gas on 20/64-inch choke; 275 barrels 48 gravity condensate; 288 barrels water. PRESSURE: 3,050 lbs. SPECIFICS: Lower Cotton Valley RA; perforations, 9,582-10,646 feet, depth, 11,185 feet.

    COMPANY: KCS Resources Inc., LCV RA SUI; LA Minerals LTD 15: 3-Alt., 235335. WHERE: Terryville Field, S. 15, T. 19N, R. 4W. DAILY PRODUCTION: 2,822 mcf gas on 22/64-inch choke; 130 barrels 48 gravity condensate; 763 barrels water. PRESSURE: 1,660 lbs. SPECIFICS: Lower Cotton Valley RA; perforations, 9,614-10,870 feet, depth, 11,210 feet.

    <<<<<<

    So whilst the company is completing the production casing and further verifying flow rates into the sales pipeline there is no doubt they are on a winner and anyone who has lost patience will be dissappointed. i feel very sorry for you if you have sold out at these levels. I am happy to keep buying at these levels and wait till september if thats how long it takes for further information to be revealed. In the meantime if they can accumulate more acreage in this highly competitive area that makes it all the better. And given that there are at least 9 more wells to be drilled in Raven alone i wont be selling one single share until at least end of 2008!!



    i seriously disagree with those posters who have bagged out the Pryme management on HC... i feel they (PYM) are methodically carrying out the game plan and erring on the side of caution and conservatism so that when they release actual results they are very real and not overstated... which in the long run will be positive. I find it amusing the people who have bagged the management are also the ones who bought at higher levels looking for a quick buck... so often poor traders look to blame someone else for their bad trading and/ or losses. Blame yourself for being impatient!

    Pryme is a long term buy and hold so patience will be very well rewarded.

    See you.
 
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