HCD - Hydrocarbon Dynamics

[Mazrox]

Re: PYM - Pryme Oil

The announcement came out 10.30-ish on Wed 12th. Closed at 37c on the 11th, so the drop came after the announcement.

Struggled in the low 30's all day yesterday.

Hoping for some better news in the not too distant future!

Maz

 

[moneymajix]

Re: PYM - Pryme Oil

ANNOUNCEMENT
! Project Summary and Progress Update


http://www.asx.com.au/asxpdf/20070925/pdf/314qnymy83vtz6.pdf


Raven Project (40% Interest)


The first well in the Raven Project, the Spinks-Middlebrooks #11-1, reached planned total depth of 10,830
feet and was successfully logged. Several intervals were identified that correlate with the gas shows
during the drilling phase and appear to aggregate a sufficient amount of total pay in at least three zones.
A natural gas discharge pipeline has been installed and the perforating and fracturing of the first two
zones is almost completed with flow tests and detailed initial results to be reported later this week and
through next week. This is the first of a minimum ten well program to be drilled in this project. The next
well in this project is scheduled to be drilled in November, and then one well drilled every quarter as per
the above drilling program.


Sp. 33c

 

[flyboy77]

Re: PYM - Pryme Oil

ANNOUNCEMENT
! Project Summary and Progress Update


http://www.asx.com.au/asxpdf/20070925/pdf/314qnymy83vtz6.pdf


Raven Project (40% Interest)


The first well in the Raven Project, the Spinks-Middlebrooks #11-1, reached planned total depth of 10,830 feet and was successfully logged. Several intervals were identified that correlate with the gas shows during the drilling phase and appear to aggregate a sufficient amount of total pay in at least three zones.
A natural gas discharge pipeline has been installed and the perforating and fracturing of the first two zones is almost completed with flow tests and detailed initial results to be reported later this week and through next week. This is the first of a minimum ten well program to be drilled in this project. The next well in this project is scheduled to be drilled in November, and then one well drilled every quarter as per the above drilling program.


Sp. 33c

Just to highlight they key words there.......this could be the turning point for PYM.

Note also the end of the corporate presentation - PYM is 9th largest oil company by revenue (Aust oil coys working in the US) but 25th by market cap.

 

[moneymajix]

Re: PYM - Pryme Oil

Flyboy77

Note also the end of the corporate presentation - PYM is 9th largest oil company by revenue (Aust oil coys working in the US) but 25th by market cap.

Thanks for pointing that out.

Worth taking a look at the presentation.

Price is down currently to 32.5c. Tempting.


:star:

 

[moneymajix]

Re: PYM - Pryme Oil

40c as of, NOW.

Up over 5%.

News from Raven expected soon. So some getting on in expectation.


I would be interested to have an update from Trader Paul re his astrostuff.

 

[moneymajix]

Re: PYM - Pryme Oil

Some money majix...




Results from Raven


From the ann.

“This is an excellent result for the company as we are producing natural gas directly into the market. Our pre-planning and time spent in laying our discharge line and testing this well effectively has definitely been worth the wait. At calculated flow rates, revenues net to Pryme meet our target of US$70,000 per month, adjusted for US$6.50/MMBtu gas, royalty and severance tax. This is the first result in Pryme’s strategy of increasing earnings through the drill bit with first cash receipts expected from gas sales in December. Investors will be able to gauge this success through an increase of revenues in our quarterly cash flow reports starting in calendar Q1 in 2008,” said Justin Pettett, Pryme’s Managing Director.

 

[adambosso]

Re: PYM - Pryme Oil

5 November 2007
Drilling begins on second well in Saline Point Project
Drilling of the second test well (State Lease 19234 No.2) in the Saline Point oil exploration project began on the weekend. Drilling is currently at 2,000 feet with the target depth of 5,100 feet expected to be reached late this week.
The initial test well (State Lease 19234 No.1) in this oil exploration project was drilled in early September 2007 and was logged showing oil in three of the primary objective Middle-Wilcox sands. Through further core analysis it was determined that these sands did not have commercial potential in that wellbore. The geology was re-mapped for further definition and a second location derived targeting oil shows encountered in the No.1 well.
This project is located in the southern portion of Catahoula Lake in LaSalle Parish, Louisiana. The project will target in excess of 2 million barrels of oil from the upper sands of the Wilcox formation and is located near Catahoula Lake and South Catahoula Lake fields which are prolific oil producing regions.
Pryme has a 26.96% working interest (20.22% net revenue interest) in this project. For further information please contact:
Justin Pettett Managing Director Pryme Oil and Gas Limited Telephone: +61 7 3371 1103
Email: justin@prymeoilandgas.com
Ryan Messer President Pryme Oil and Gas Inc Telephone: +1 832 487 8607
Email: ryan@prymeoilandgas.com
Pryme Oil and Gas Limited is an Australian oil and natural gas producer and explorer with interests in the U.S., the world’s biggest oil market. The company has an exceptional suite of exploration projects focused on Louisiana, the fifth-largest oil-producing state in the U.S. These projects are funded in part by existing cash flow. Pryme’s management team has a total of almost 50 years of energy industry experience and has uniquely focused local knowledge, underscored by the proven track records of its managers and directors. Directors of the company are John Dickinson (Non Executive Chairman), Justin Pettett (Managing Director), Ryan Messer (Executive Director), Ananda Kathiravelu (Non Executive Director) and Philip Judge (Non Executive Director).

make or break time

 

[BMTT88]

Re: PYM - Pryme Oil

Commercial quantities of oil found but no movement?

Oil Discovery Made in Saline Point Project
The second test (State Lease 19234 No.2) in the Saline Point oil exploration project reached its target depth of 5,100 feet resulting in the discovery of our primary oil objective in the Middle-Wilcox sequence. Core samples were taken and analysed to confirm the well log reading and presence of commercial quantities of oil between shale with no water contact evident. Several other oil shows were present, and will require additional drilling to test.
The election was made to run production casing and complete the well, which will begin immediately with first oil expected to be sold by year’s end.
“We are very pleased with the result from this test, specifically the possibility of additional oil sands. Using the information obtained from this test the subsurface geology will be remapped and additional locations derived to test the extent of the reservoir,” said Justin Pettett Pryme’s Managing Director. “This well adds valuable oil reserves to Pryme’s balance sheet and demonstrates the board’s execution of its growth strategy. As stated in the past shareholders will be able to gauge this success through an increase in revenues in the cash flow reports each quarter.”
This project is located in the southern portion of Catahoula Lake in LaSalle Parish, Louisiana. The project is targeting in excess of 2 million barrels of oil from the upper sands of the Wilcox formation and is located near Catahoula Lake and South Catahoula Lake fields which are prolific oil producing regions.
Pryme has a 26.96% working interest (20.22% net revenue interest) in this project. Drilling of the first group of Frio objective wells in the Turner Bayou 3D seismic project and second Raven project well is expected to begin later this month as planned and outlined in the drilling timetable enclosed in this announcement. For further information please contact:
Justin Pettett Managing Director Pryme Oil and Gas Limited Telephone: +61 7 3371 1103
Email: justin@prymeoilandgas.com
Ryan Messer President Pryme Oil and Gas Inc Telephone: +1 832 487 8607
Email: ryan@prymeoilandgas.com

 

[moneymajix]

Re: PYM - Pryme Oil

38.5c, up 7%.

Down day.

Patience, I guess.

With rising oil prices this should be going higher once oil is sold later in the year.

The election was made to run production casing and complete the well, which will begin immediately with first oil expected to be sold by year’s end.

and

The project is targeting in excess of 2 million barrels of oil from the upper sands of the Wilcox formation ...

 

[moneymajix]

Re: PYM - Pryme Oil

40c, up 11+%

I have noticed the share prices has moved up prior to news in the past.

Drilling going on.

 

[moneymajix]

Re: PYM - Pryme Oil

Last price - 42c

Pre open

More gas... doesn't surprise me.


12 December 2007

Gas Found in First Turner Bayou Exploration Well

The first exploration test (Bordelon 25 No. 1) in the Turner Bayou 3D seismic project has reached total
depth of 4,900 feet and was logged, resulting in the discovery of gas in the Frio interval. Core samples were taken and are currently being analysed.


http://www.asx.com.au/asxpdf/20071212/pdf/316fz784d9hg6f.pdf





Addition:

Close 44.5c, up 7.229%

 

[flyboy77]

Re: PYM - Pryme Oil

Correction - the stock reopened for trading at 16.10.00 in the after market...


closed at 44.5 with strong bids.

looking forward to tomorrow....

 

[moneymajix]

Re: PYM - Pryme Oil

Rewards for the patient

50c
Up 12.360%

See ann. late yesterday.

This Oil and gas stock in the US has been under the radar.

 

[moneymajix]

Re: PYM - Pryme Oil

Keep it coming...

Again...

more gas from PYM


See today's ann.

Raven Well Hits Primary Gas Targets

The Pryme team remains focused on our goal of generating earnings and building reserves towards our target of building a A$300-A$500million company in 3 to 5 years. We’re expecting a strong 2008 to build on these latest results...

Hit 56.5c, currently 52c.

 

[adambosso]

Re: PYM - Pryme Oil

Anyone got any information about pym recently...
found oil and gas yet the price has barely moved?

is the something im missing?

thankss

 

[Putty7]

Re: PYM - Pryme Oil

Have been watching this one for a while, not a lot of shares on offer, market cap of 13 million, share holder value of 29 million, cashed up in a big way with no debt, currently drilling, just wondering if this one is flying under the radar or if I am missing something, SP up today on low volume.

 

[Putty7]

Re: PYM - Pryme Oil

18 December 2009

Catahoula Lake – New Oil Exploration Project

Pryme Oil and Gas Limited has entered into an agreement with TriDimension Energy for oil exploration on Catahoula Lake which is located in LaSalle, Rapides, and Grant parishes, Louisiana. The Catahoula Lake project will test the same “Middle-Wilcox” oil horizons as the Company’s existing production in the LaSalle Parish and Four Rivers projects. However, in a less drilled environment. It will target reservoirs estimated to collectively contain in excess of 10 million barrels of oil remaining undiscovered in the Catahoula Lake and South Catahoula Lake fields which
have produced 24 million and 4 million barrels of oil respectively to date.

Pryme’s interest in the project comprises a 50% working interest (39.75% net revenue interest) in 7,676 mineral acres and a 50% ownership interest in a drilling barge, service barges, crew boats and associated equipment necessary to drill and operate on the Lake.

“This is a very unique project in that it includes highly prospective leases as well as the equipment which is necessary for the exploration and development of wells and fields within the lake,” said Justin Pettett, Pryme’s Managing Director. “Through a direct ownership interest in the drilling barge and associated equipment, acquired at significantly below replacement cost, we have a competitive advantage throughout the 30,000 acre area of Catahoula Lake. This gives Pryme and its partners a strategic control position in an under-explored area.”

The mineral leases and equipment were originally purchased from Hunt Oil by Axis Onshore LP, the operating arm of TriDimension Energy, Pryme’s partner in the Four Rivers project. Pryme’s 50% interest was acquired for US$1.35m, a substantial discount to the replacement cost of the equipment alone. Axis Onshore LP is an experienced operator in the region and will be the operator for the project.

Catahoula Lake wells will be drilled to between 4,500 to 5,500 feet in depth. They can be drilled on a less than 40 acre spacing and should exhibit stable, long life oil production. The water depth of the lake is up to 18 feet and varies through the year as the US Army Corps of Engineers regulates the flow of water into and out of the lake. The optimum Lake drilling period is typically between February and July each year. In other months most drill locations around the periphery of the Lake are accessible via a land-based rig. Drilling and completion costs are expected to lie between US$500,000 - $600,000 per well to the 100% working interest. Ultimate oil recoveries are expected to range from 50,000 through to 200,000 barrels for each successful well.
Drilling of the first well will commence next week. It will be drilled from an onshore location directionally under the Lake to a depth of approximately 5,200 feet with the primary objectives being upper sands of the Wilcox formation. Drilling from the barge rig is planned to begin in February 2010 when the lake is full of water. Production facilities will be located on land outside of the lake boundary.

“We have an aggressive drilling program planned for 2010 which includes wells to be drilled on water and directionally beneath the lake from a land-based rig. Our objective is that the project becomes self funding and adds to Pryme’s earnings in the short term,” said Ryan Messer, Pryme’s Chief Operating Officer. “During 2010, we remain focused on extracting value from our existing projects, including the first deep horizon test in Turner Bayou; a possible second well drilled in Atocha and Catahoula Lake located in LaSalle, Rapides, and Grant parishes, Louisiana during the wet season continued drilling in the Four Rivers project. The Catahoula Lake Project is another strong addition to Pryme’s project portfolio; targeting a mix of medium risk oil prospects with an explicit focus on building Pryme’s oil production, reserves and shareholder value”

SP up a bit today, again on low volumes and possibly being manipulated upwards because of this, the Catahoula Lake Project is interesting because of the 10 wells they plan to drill next year, owning the gear to do it must save a bundle in costs and time restrictions, they have money in the bank and a good cashflow from existing wells, the book value of these last year was .25c according to Etrades data, after some acquisitions and low oil and gas prices earlier this year reducing cashflow I think the book value works out around .15c off my calculations but they could be out, Etrade don't have 2009 figures as yet. Any comments or better data would be welcome.

 

[Putty7]

Re: PYM - Pryme Oil

4 January 2010

First Success in Catahoula Lake

The first well to be drilled in the Catahoula Lake Project, the State Lease No. 19857 well in the Hawg Pen Prospect, has reached target depth of 5,200 feet and intersected the primary target in the Wilcox formation and an additional sand. Core sampling and logging indicate that the intersected sands are oil bearing and one being between shale. Production casing is being run and the well is being prepared for completion.

“The well was drilled to test several Middle Wilcox sands which were identified from offset production,” said Justin Pettett, Pryme’s Managing Director. “Production from sands between shale is typically ideal for strong, long life production throughout the Wilcox Trend.”

Project Description

Pryme has a 50% Working Interest (39.75% Net Revenue Interest (NRI)) in 7,676 mineral acres and a 50% ownership interest in a drilling barge, service barges, crew boats and associated equipment necessary to drill and operate on the Lake. The project is located on Catahoula Lake in LaSalle, Rapides, and Grant parishes, Louisiana. The Catahoula Lake project will test the same multiple “stacked” oil zones throughout the Middle-Wilcox formation as the Company’s existing production in the LaSalle Parish and Four Rivers projects at depths ranging from approximately 4,500 to 5,500 feet. However, in a less drilled environment. Wells drilled in the Middle-Wilcox exhibit long production lives with low decline rates after the initial flush oil is produced and relatively steady production is established. They are relatively inexpensive to drill and typically have low operating and on-going maintenance costs. The water depth of the lake is up to 18 feet and varies through the year as the US Army Corps of Engineers regulates the flow of water into and out of the lake. Ultimate oil recoveries are expected to range from 50,000 through to 200,000 barrels for each successful well.

Nice announcement for PYM today, no volumes to go with the show but it is still early days and they have a lot of wells planned in this area for later this year.

 

[Kremmen]

Re: PYM - Pryme Oil

PYM is suddenly 20% up today on decent volumes. The recent CR at 8c/share was extended to 30 Nov, which will be much better for them now that SP is above 8c.

 

[gerkin02]

Re: PYM - Pryme Oil

Encouraging results to date with significant natural fracturing encountered and oil/gas flaring to the surface.

4500ft lateral being drilled into the austin chalks guided by 3d seismic

Flow test will be the key.

All the best.