Once the farm in arrangement for funding is announced only a matter of a month or two before the re entry well gets drilled... i've heard the cost has come down from US$5 million to under $2m so thats a great way to kick off this project.
Monthly revenue will be in the vicinty of US$ 500,000 net to Pryme if production is what they anticipate...or A$8 million at todays prices and exchange rate.
10 successful wells will be the real company maker for Pryme... and i'm guessing if the first few are successfull Pryme will be able to up their stake in the subsequent holes drilled.... A$20million revnue per annum per hole for a number of holes would be a great result inteh next 12 months.
Oil and Gas weekly still rates Pryme a good chance to bolt much higher...lets hope its soon.
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