Pryme Energy (ASX:PYM) has recently intersected oil and gas shows in the first two holes at its Capitola Oil Project in the Permian Basin, Texas.
Drilling is underway on its third well with first oil production from the first two wells expected in December.
The company has now being granted an ASX trading halt in relation to the sale of its interest in the Raven Project in Louisiana.This will last until the earlier of the announcement being made or the commencement of trade on Wednesday 12 November 2014.
