Everything else is in meltdown and PYM rallys today!!......

Everything else is in meltdown and PYM rallys today!!...

staggereing to believe it has fallen to such ridiculous levels in the last few weeks ...all on minimal volume.

the company has $5 mil cash in the bank, another $1.8 mil coming for Atocha farmout coming, is now earning revenues of $4 mil per annum, 4 more Turner Bayou wells to be drilled by year end , another Raven well drilled by year end... oil and gas reserves are building all the time so how can this market justify cutting the price in half... clearly it should be doubling.

or look at this way current market cap is approx $15 million at 13 cents per share...

but CAsh = $6.8 million

LaSalle oil returns $1.5 million revenue annually, prospect could easily could be sold for $5 mill

Raven prospect is now returning at least $2 million per annum, easily could be sold for $5 million...with 10 more drill locations to come that is cheap

So that means at current price Turner Bayou is worth zero, Atocha is worth zero, Saline point is worth zero and all other exploration upside is worth zero !!!!!

Turner Bayou on its own must be worth 20 or 30 cents per share with success in the first 3 out of 4 wells drilled, 2 more shallow frio wells drilled in the next 2 months, and potentially some deeper targets drilled in the next 4 months. So when the pipeline is connected and gas sales comence that has to add another $2 - 4 million in annual revenues...even more with success in the deeper targets . Sure the market may have been disappointed with delays in permitting and commencing drilling at TB but those issues are behind and the next 6 months will see this begin to produce.

Success in Atocha will have an even greater impact...its a deep gas target over 1 TCF gas.

Given the turmoil in credit markets its hard to see sentiment recover in the short term however when bargain hunters come looking for companies that are debt free, cash in the bank with earnings increasing, huge upside in multiple low risk projects, then Pryme has to register .

cheers cu