Pryme Energy Limited (ASX:PYM) announce the Rosewood Plantation 21H No.1 Drilling Update at the Turner Bayou Chalk Project. The Rosewood Plantation 21H No.1 well is currently drilling ahead at a depth of 13,555 feet (4,130 metres). Drilling to date has gone to plan.
Rosewood Plantation 21H No.1 (61.53% Working Interest / 46.15% NRI)
Ryan Messer, Pryme's Executive Director and COO, said, "we expect to reach the top of the Austin Chalk, at a depth of approximately 14,900 feet, within the next few days. We will then run the intermediate casing from surface into the top of the Chalk and cement it in place. This will be followed by drilling the lateral section of the well which is designed to intersect the naturally occurring oil bearing fracture systems within the Austin Chalk formation. Flow testing and connection to production facilities are planned for mid-December."
About Turner Bayou
The Turner Bayou project comprises approximately 80 square miles (50,000 acres) which have been imaged by a proprietary 3D seismic survey. Pryme has a 40% working interest in 25,029 acres (10,011 net acres) in the Turner Bayou project and is initially targeting development of the Austin Chalk horizon. In addition to the Austin Chalk potential of the Turner Bayou project area, exploration drilling within Pryme's Turner Bayou leases has intersected the Tuscaloosa Marine Shale which is analogous to the prolific Eagle Ford Shale in South Texas.