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MENAFN - ProactiveInvestors - Australia - 19/11/2012

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(MENAFN - ProactiveInvestors - Australia) Pryme Energy (ASX: PYM) will sidetrack its latest horizontal oil well at the Turner Bayou project in Louisiana after encountering unstable sands and shales.

The unstable sands and shales around the Wilcox formation noted while conditioning the well bore at Rosewood Plantation 21H-1, 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 about 4,000 feet and re-drilled into the top of the target Austin Chalk Formation.

Starting the procedure immediately is expected to minimise the delay in running intermediate casing and will maximise the likelihood of a good connection from the surface into the Austin Chalk before drilling the planned 5,000 feet lateral section.

Pryme has a 40% working interest in 25,029 acres that make up the Turner Bayou project and a 61.53% working interest in the Rosewood Plantation 21H-1 well.

 






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