re: Ann: Intermediate Casing Successfully Ins... Fluff, V8 et...

re: Ann: Intermediate Casing Successfully Ins... Fluff, V8 et al,

As I evaluate PYM a couple of items maybe this forum can provide some "color" on:

1. Reserves.
a. Who has heard of Petro Partners and Kim Galjour

b. Take a look at the Reserves differences from 01/01/10 thru to 31/11/12

c. Understanding that Reserves will fluctuate as wells are drilled and reflect the net WI/NRI in the properties, but can anyone reasonably explain the very large drop in 2P Gas reserves?


2. Turner Bayou Chalk Farmout
Back on 30/04/10 PYM completed farmout of TBC. For $500K and free carry on 1st 2 wells the dry hole financial risk was neglible. Now we are on the 3rd well (excluding the APC partnered well) and are paying out share - in fact PYM upped its WI - presumably minor partners are not so fod of chalk anymore.

What are the thoughts on the technical challenges facing in the LA AC and that APC appears to have thrown in the towel on the area - even after the stunning IP of Lacour-43 well which dropped off to not much shortly thereafter. Does PYM has the expertise now to get it done when APC, a supposed expert on the Chalk from their TX experience could not (yes the LA coon dogs like nothing better than the good ole boys from TX screwing it up).


3. Should Rosewood hit the zones like in the preso then yes that 1 well would be a company maker. However, who has been able to research and find a comparable well that has produced at those rates OVER THE PERIOD OF TIME MODELED (circa 6 years). Production is well over 300MBO in first year.


Regards