tuscaloosa shales

Some researchers believe the Tuscaloosa shales contain billions of barrels of oil.

Encouraging Results from Tuscaloosa Shale

It is a new and exciting play, and could be the hidden kicker for Pryme (in the longer term).

Either way, for oil and gas investors, this development bears closer scrutiny, both of this company and their management, and should be a red flag to indicate that serious investors should do more research on this early adopter play.

Only one ASX company has landholdings in the Tuscaloosa (to my knowledge), and that is Pryme. So this could get very interesting.

Leasing can currently be had for less than $100 per acre and 20 percent royalty, compare that to the Bakken Shale, where leasing costs in September 2011, as reported by TheOilDrum.com, were between $7,000 and $8,000 per acre.

Indigo Mineral's most recent well in the Tuscaloosa had an initial production of 540 barrels a day.

So are Pryme management visionaries, or are they just hoping to be lucky, or are they high risk takers? It may be worth spending a few days seriously researching this company and the Tuscaloosa shales.

Gw

My formula for success? ... " Rise early. Work late. Strike oil. "
J.Paul Getty (1892-1976)