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Ann: Capitola Oil Project Operations Update, page-4

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JWB1985

4,018 Posts.

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23/01/15

11:07

Post #: 14629162
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Originally posted by CJTJ ↑

cougar,
looks like everybody has deserted here...any ways they will be back, slight turn around in oil and things will change quickly.

I agree that it is an encouraging announcement and from the announcement the barrel rate will be increasing at the Hope Boles well
“The well is expected to produce increasing volumes of oil as it cleans up from fracture stimulation and the frack fluid is produced back.”

and at the Mahaffey Bishop PU1 well ...from the announcement- The present oil production rate is 62 barrels per day (46 net to Pryme), we expect this rate to increase as frack fluid is produced and the well cleans up. The average rate of increase in oil production for the past week was over 12% per day.

At the McCain well I liked the following - Approximately 170 net feet (51 net metres) of oil and gas saturated sandstones, limestones and shales were encountered during drilling of the McCain well.

I think there are a lot of positives here for PYM and plenty to look forward to, just need the sentiment in the O&G sector to change.

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Every well that produces in some form starts to derisk the whole project - and add leverage when the oil price turns in coming months.

I'm really looking forward to McCain flow rates - I think she'll be a good'un.

PYM Price at posting: 0.7¢ Sentiment: None Disclosure: Held
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