Pryme Oil Commences Drilling Deshotels At Turner Bayou Chalk Project
Pryme Oil and Gas Limited drilling the first well in the Turner Bayou project Chalk, who Deshotels No.1 20-H well in the North Bayou Jack Field, starting this weekend and is now at a depth of 1700 feet (518 meters.) Wells will be drilled to depths 15 380 feet (4688 meters) with 4,500 vertical feet (1372 meters) through the formation of lateral horizontal Austin Chalk oil bearing dominant in this region. It is expected that drilling will take approximately 7-9 weeks to complete.
Pryme has a 40% working interest (30% in net interest income (NRI)) in this well.
Project Description
Turner Bayou is one of the high Pryme project value. Located in Avoyelles Parish, Louisiana. Pryme has a 40% interest in the Turner Bayou project area, Chalk, which is contained in the Turner Bayou 3D seismic survey, and 52% interest in the balance of Turner’s Bayou. Turner Bayou Exploration project cost is higher than the Austin Chalk shallow prospects in all of Turner’s Bayou and, to reduce risk and reduce expenses, Pryme has farmed from a small working interest in the Turner Bayou project Chalk for cash and carry flowers.
Turner Bayou Project consists of about 80 square miles (50,000 hectares) that have been imaged by the proprietary 3D seismic survey. The primary targets are contained in six prospective formations ranging in depth from the Frio formation at 3000 feet, to the formation of Tuscaloosa at 18 000 feet.
About Pryme Oil and Gas Limited:
Pryme Oil and Gas Limited (ASX: PYM.AX) (PINK: PYMOF) is an Australian oil and natural gas explorer with interests in the U.S. Gulf of U.S. companies have oil and gas exploration projects focused on Louisiana, the fifth largest oil producing country in the U.S. This project was funded in part by existing cash flow. Pryme’s board of directors and management team has over 100 years of energy industry experience and has a unique focus on local knowledge, underscored by the proven track records of managers and directors.
Key: North Bayou Jack Field, turner bayou project, Turner Bayou, Turner Bayou 3D seismic survey, avoyelles parish oil, turner bayou chalk project, drilling in avoyelles parish
Comments
.: Sponsor Links :.