Oil And Gas Flared At Surface On Pryme Oil and Gas Limited (ASX:PYM) Deshotels 20-H No.1 Well
Oil And Gas Flared At Surface On Pryme Oil and Gas Limited (ASX:PYM) Deshotels 20-H No.1 Well

Brisbane, Nov 8, 2010 AEST (ABN Newswire) - The Deshotels 20-H No.1 well in Pryme Oil and Gas Limited (googlechartASX:PYM) (OTCQX:POGLY) Turner Bayou Chalk project is currently drilling horizontally within the Austin Chalk formation at a vertical depth of approximately 15,248 feet (4,647 metres) and a total measured depth of 18,368 feet (5,598 metres). Approximately 68% of the planned 4,500 feet (1,371 metre) long horizontal leg has been drilled.

To date multiple oil and gas bearing fracture zones have been intersected. Oil and natural gas are being brought to the surface while drilling and flared at the well head.

The rate of drilling the horizontal leg has been variable with some minor technical difficulties. However, the Directors are pleased with progress and expect drilling to be completed within 10 days.

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

Contact

Justin Pettett
Managing Director
Pryme Oil and Gas Limited
Tel: +61-7-3371-1103

Ryan Messer
Chief Operating Officer
Pryme Oil and Gas Limited
Tel: +1-713-401-9806

http://www.prymeoilandgas.com


ABN Newswire
ABN Newswire This Page Viewed:  (Last 7 Days: 1) (Last 30 Days: 13) (Since Published: 1976)