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Ann: Capitola Oil Project Operations Update, page-7

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JWB1985

4,018 Posts.

63

23/01/15

12:12

Post #: 14629943
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Originally posted by arguls ↑

Under the terms of the Agreement, making future lease payments and the continued drilling of wells are optional for Pryme and decisions to make payments and drill wells will be taken after consideration of many factors including oil prices and the economic environment.

as i understand there is additional lease payment costs, exploration costs, salaries etc..that should be taken into account - so the cash balance at the end of this year will be lower than 8.4M cash in the bank. I think PYM needs more barrels to produce to get out of cash burn. How do You see this Sprout?

After news release share price is't moving anyway.

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Yes - they be hoping to fund majority of future development from cash flow from existing wells but unlikely to be able to have major development program from cash flow alone.

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