guess who?, page-5

Ok then.

52000 acres is the seismic shoot that was done in the area.

The turner bayou area under lease covers 24000 acres.

The austin chalk project with nelson energy covers 15000 acres.(pym w/i 40%).The remaining land pym has at 52% w/i.

Pryme currently has $5.2m in cash but I dont think this allows for the Rabalais 35-1 well (approx $1m).

Pryme owes their largest shareholder $4m which is due for re-payment at end of May 2012 or converted into shares at 30c.

Therefore assuming the $4m is converted to shares there would be approx 280m shares on issue including other options currently.

Prymes chalk project now appears to be completely sorrounded by Anadarko to the west and north,with Nelson energy having land to the east and south.

Prymes chalk project straddles the edwards reef trend with all wells drilled to date being south of the reef.

The significance of the reef is two fold,
1)firstly it is for its faulting activity which creates significant fracturing in the rock.
2)secondly south of the reef it dips sharply and is likely to be gas/condensate/natural gas liquids with a significant gas drive.(wells drilled to date ie altium briggs have many mmcfd of gas to push the liquids,where has the deshotels 13h only had 644 thousand cubic feet of gas drive.
3)With higher gas drive and the condensate(light oil) being less viscous than oil the wells are generally better producers.
4)the significance of the Rabalais 35-1 well in this area is that it is north of the reef(first north well for anadarko in this area) so will most likely have a lower gas drive and be at a slightly shallower depth.If successful this well will most likely go on pump early.

If the Rabalais 35 well is successful the prymes acreage will be completely sorrounded by successful wells(Dominique 27-1,Atinum briggs alt #1,Lacour 43-1).

Next year Pryme may be able to post some significant 1P,2P and 3P reserves due to the success of the area(themselves)and in close proximity to their acreage.

There is no doubt at some point Pryme will need more cash so another cap raising will be on the horizon for Feb/March next year.

The significance of all this has currently escaped the eyes of the market and a substancial re-rating should occur into 2012.

Hope this helps and all the best.