PYM 0.00% 0.0¢ pryme energy limited

pym banks $6.5m in cash, page-28

  1. 53 Posts.
    Forrestfield - yes, it blew me away. But when a play reaches your door step you don't complain I guess. great work by PYM team and a small shame it didn't come a few months back so cap raising was not needed but that is the past. As for four rivers project. I know this area of the Wilcox well. Shallow 4-5000 feet, vertical wells etc. really its small time stuff and the market will never pay you for it. By this I mean you go and drill a well there and it comes in at 30 BOPD and the ASX punters just yawn. In reality it should be like that at all. Four Rivers is your bread and butter style play. Cheap at $3-$500,000 per well to Drill and Complete. Im pretty sure its not a focus for PYM to drill more wells out there in fresh plays when they have a deal like Capitola. It just provided long life low maintenance revenue. The premium for Louisiana Lite Sweet Crude is all but gone these days but still, it chugs along and pays bills. Going forward PYM will probably have less focus out here.
 
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