Well, so far no directors buying signals since last tuesday's announcement, so no indication of what might be in this weeks announcement.
In fact Pryme has fallen about 10% on light volume in the last week. With today and last Tuesday being the only days with over 300000 shares traded there doesn't appear to have been any significant activity. Holders hanging tight and potential buyers sitting on the sidelines. Everyone waiting for some news.
Anyways, tomorrows announcement will hopefully the read that the log data has been evaluated and the horizontal drilling has commenced.
If we are really luck there might be an update on the upcoming drilling campaign on a recently drained Lake Catahoula.
I would think that it is fair to expect that the Austin Chalk will contain oil, but if there is any further information about other 'formations of interest' then that would also be good news. I am stretching my knowledge a bit here, but I think there is likely to be the tight sands of the wilcox located somewhere above the Austin Chalk and if log data indicates potential commercial quantities of gas flow that could be a bonus.
The really good news would be if there was some indication about the extent of the fracturing in the Austin Chalk, but not really expecting them to say much.
Anyway, horizontal drilling would be a good start. And some directors buying more!
Cheers,
turtle
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