turner bayou:- a number of hydrocarbon shows

2 November 2010
Deshotels 20-H No.1 Drilling Update

Turner Bayou Chalk Project

The Deshotels 20-H No.1 well in the Turner Bayou Chalk project is currently drilling horizontally within the Austin Chalk formation at a vertical depth of approximately 15,310 feet (4,666 metres) and a total measured depth of 15,964 feet (4,866 metres).

Approximately 650 feet (198 metres) of the horizontal leg has been drilled and a number of hydrocarbon shows have been encountered. It is expected that drilling of the horizontal leg will be completed within 3 weeks. Whilst it will not be possible to evaluate the shows until flow testing of the well has been carried out, the Directors are encouraged by the progress to date.

Pryme has a 40% working interest (30% net revenue interest (NRI)) in this well.