bang, page-21

Hey Ubid, this is your cut and paste from RFE, which I have also followed. Bears a remarkable similarity to MAE in the eearly days, and already you are questioning the admin expense. I would like to share it our guys.

I wouldn't touch Redfolk with a pitch folk, their hype is bigger then MAE's PR machine.

But well worth the analysis of an Oklahoma asset for which MAE owns. RFE are in drilling phase with expectations only.

Your quote from RFE,,,

Take a look at what someone posted on the PYM thread. Oil and Gas weekly comparing the 2 stocks again. Interesting!!

Here it is:

Latest edition of Oil and Gas weekly again considers Pryme in relation to RFE....

"Pryme Oil & Gas has identified two oil bearing sands in the Wilcox
formation in its most recent well, Missiana 18-11 #2 on the Four Rivers
project in Louisiana. Pryme said the intersection of a good thickness (11 net
feet) of high quality sands in the target reservoir would likely lead to greater
reserves and a higher production rate than achieved in the original discovery
well drilled in 1984. The well will be cased and completed for production.
The news failed to excite much interest in PYM shares which rose from $0.125 to $0.135 over the week on very low volume.
PYM reported $490,000 in sales in the June quarter, 150% more than current market favorite, Red Fork but had $2m in the bank as against RFE¡¯s $7.4
million - due largely to a recent placement at $0.50.
Both companies have a similar number of shares on issue, just over 110 million. Neither have any debt. Pryme spent $442,000 on administration in the June three months, Red Fork a huge $723,000 taking admin costs (salaries, Director¡¯s fees, commissions, office overheads and travel) to $2,574,000. That needs explaining.
Yet PYM has a market cap of just $15 million and RFE $166 million.
Something awry there. Pryme is a quality oil producer, Red Fork has shale gas of questionable value in Oklahoma and oil at West Tulsa and is running hot largely on putative reserves figures.
This week Pryme will follow up with another well targeting a similar structure to the Missiana well. Further success should see interest build in Pryme¡¯s shares.
The company has an 18.75% to 20% working interest in Four Rivers where
another ten wells are scheduled to be drilled before the end of the year."