Pryme Finds Oil in LaSalle Parish



Pryme Oil and Gas reports that the Coleman No.7 (previously called the Coleman No.6) development well was successfully drilled to a total depth of 4,500 feet (1,371 meters) and encountered shows of oil in eight Wilcox sands, the G-4, G-3, F-2, E-3, C-2, B-4, B-2 and A-2 sands.

A core analysis indicated good permeability and oil saturation in 34 feet of Wilcox sands being the G-4, C-2, B-4, B-2 and A-2. Consequently, the well is being cased for completion in the C-2 sand which is the primary field pay sand. The B-4, B-2 and A-2 zones will be kept as Proved, Undeveloped sands for future re-completion up the hole.

The successful oil shows in the Coleman No.7 opens up another development well location to the northeast to be named the Coleman No.8 in order to test the F-2 sand. The F-2 was found in the Coleman No.7 and it is expected that the No.8 will effectively test the F-2.

Pryme's Managing Director, Justin Pettett, said: "We are very happy with the results of this well as two other wells in the Routh Point Field that are completed in the C-2 sand have been extraordinary producers. We expect this incremental production to add to our cash flow base as the well is competed within the next 30 days."

Pryme's Managing Director, Justin Pettett, said: "We are very happy with the results of this well as two other wells in the Routh Point Field that are completed in the C-2 sand have been extraordinary producers. We expect this incremental production to add to our cash flow base as the well is competed within the next 30 days."

The Directors of Pryme continue to focuse on the 'Phase I' plan of aggressively pursuing the drilling of development and step out wells in the LaSalle Parish Project, while Phase II (3D seismic shoot in South Central Louisiana) is being implemented. The Company is planning to drill additional Phase I wells before the end of the year to further strengthen Pryme's revenues.

Pryme has a 13% working interest (9.75% net revenue interest) in the Coleman No.7 well.

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