Pryme Energy (ASX:PYM) has completed fracture stimulation of the Hope Boles PU1 well in the Sweetwater acreage block, Texas.
Oil, gas and frack fluids are currently being produced from both the Canyon Sand series and Cline Shale intervals.
Its initial potential will be determined following the removal of frack fluid from the two intervals.
Pryme has a 100% working interest in the Hopes Boles well. This will continue until payout of the first three Capitola Oil Project wells and will then reduce to a 75% working interest.
Meanwhile, the Mahaffey Bishop PU1 is currently producing 62 barrels of oil per day.
This is expected to increase further as frack fluid is produced and the well cleans up.
