This seems fairly encouraging. I'm certainly no longer holding...

This seems fairly encouraging. I'm certainly no longer holding the same hopes I once did about PYM becoming the next big oil monster success story, but management has a fair bit of skin in the game, they know more about the Turner Bayou than any of us, and they're still putting their faith in the project.

I did like the Catahoula Lake asset, but this move says to me they think it is worthwhile dumping it for the chance to make Turner Bayou a success. I'm sure a lot of investors in my shoes holding PYM are feeling dishearted about Turner Bayou (PYM is currently a paper loss of about $40k for me... ouch), but management seems to still think it's worth developing.

I had resigned myself to saying that I'd done very well on some oil explorers/early stage producers who pulled off success and this was one which had failed and I had to cut my losses on, but this move is bold enough to make me think we just might still see some decent results with Turner Bayou. They have a lot of work to do if they want to convince anyone of anything now though.