raven well completion

From the announcement out today sounds like good progress here. No drama to wait a couple more weeks for the final confirmation of flow rates from both the C and the Price sands.

Assuming gas flow rates and production comes on line in the vicinity of 2mmcf per day the potential revenue outcome from this well to Pryme would be approx

2mmcf per day X $8 = USD16,000 X 365 days = USD 5,840,000

X 30 % to PYM = USD 1,752,000 per annum

or USD438,000 per quarter ..

This is hardly factored into current sp at these levels.

Sorry guys i wont be able to make it to Brisbane for the meeting..will be in Dallas that day. Cheers CU