Pryme Energy (ASX:PYM) has intersected 36 net feet of oil and gas of oil and gas saturated sandstones at its Hope Boles PU 1 well at the Capitola Oil Project in the Permian Basin, Texas.
Production casing is currently being run and will be cemented in the wellbore for completion.
Hope Boles PU 1 is second well to be drilled at the project. The first well, Mahaffey Bishop PU 1, intersected 34 net feet of oil and gas sandstone.
Pryme is currently drilling the third well, McCain 189-F1, through 5,900 feet towards its target depth.
The well is expected to be logged and cased next week.
Completion of the Mahaffey Bishop and Hope Boles wells will commence in November with first oil production from both wells expected early in December.
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