PYM pryme energy limited

Currently with a market cap of only $40m and shares on issue...

  1. 711 Posts.
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    Currently with a market cap of only $40m and shares on issue fully diluted of 280m,will leave pryme prone to being aquired by a larger entity.

    With 23000 gross acres(9600 net to pryme),this is currently trading at less than $4000 per acre for the turner bayou project,with no value for any other assets.

    Success with the Deshotels13h and remediation of the first well,whilst planning a 3rd well for November,will leave the company exposed with the current market cap.

    The eagle ford here is yet to be tested although has substancial thickness and porosity of 12-16% within a proven hydrocarbon bearing system.

    If the market does not wake up to the potential of this company very soon then I am sure a mid sized US independant company will.

    I would be saddened to see this company go down the same path as Adelphi Energy.

    Upon proving the plays potential with the current well,a $10000 per acre valuation would require a 34c share price,yet we are only half of that with no value given to other assets.

    Lets see how it all unfolds.

    All the best.
 
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Currently unlisted public company.

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