ann. drilling beings in turner bayou

ANNOUNCEMENT

10 Dec 2007 10:41 !
Drilling Begins in Turner Bayou 3D Shoot


10 December 2007
Drilling Begins in Turner Bayou 3D shoot
Drilling of the first exploration well (Bordelon 25 No.1) in the Turner Bayou 3D seismic project has
commenced. The target depth of 4,900 feet is expected to be reached late this week.
“The Bordelon 25 No.1 is the inaugural well of the first group of prospects to be drilled within this project
that targets the Frio and Miocene formations. Our strategy is to drill a number of these shallower Frio
targets focusing on building reserves, earnings and a gas gathering infrastructure to deliver the gas to
market,� said Justin Pettett Pryme’s Managing Director.
Pryme has a 52% interest (39% NRI) in this project, which covers approximately 80 square miles (50,000
acres) of proprietary 3D seismic. Primary targets consist of six prospective formations ranging from the
Frio formation at 3,000 feet through to the Tuscaloosa at 16,000 feet. Executing on the Turner Bayou
Project has always been Pryme’s main objective since its ASX listing with the project having the capability
to produce substantial value for shareholders.