March 1 (Reuters) - Pryme Energy Ltd (PYM) :
- Pryme sells capitola project
- Says sale will leave the company with approximately A$5M in cash as well as its newkirk project in Oklahoma
- Newkirk has certified proven and probable reserves of 5.1 million barrels of oil equivalent
- Says many of the leases are also due to expire during 2016
- Review by the current board concluded capitola asset has limited potential to generate any meaningful value for shareholders
- Says has sold the capitola project in Texas for US$2.2M to a private US energy company
