Pryme Energy Limited (ASX:PYM) Rosewood Plantation 21H No.1 Drilling Update  

Pryme Energy Limited (ASX:PYM) announce the Rosewood Plantation 21H No.1 Drilling Update on the Turner Bayou Chalk Project.

Rosewood Plantation 21H No.1 (61.53% Working Interest / 46.15% NRI)

As last reported, the Rosewood Plantation 21H No.1 well reached a total vertical depth of 14,900 feet (4,540 metres) into the top of the Austin Chalk formation.
While conditioning the well bore, unstable sands and shales around the Wilcox formation created unfavourable conditions for running the intermediate casing. In order to mitigate the risk in running the intermediate casing, the vertical portion of the well will be deviated from the base of the surface casing, at a depth of approximately 4,000 feet, and re-drilled into the top of the Austin Chalk formation.

Since this procedure will commence immediately it is expected that the delay in running intermediate casing will be minimized. These precautions will maximize the likelihood of a good connection from the surface into the Austin Chalk before drilling the planned 5,000 foot (1,524 metre) lateral section of the well.

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.