What qualities does Pryme look for in its target areas?
Geological extensions of existing trends that cover broad areas, such as the randomly distributed Frio gas horizons, the somewhat more limited yet still very large Cotton Valley formation, the Tuscaloosa sand, the Cockfield, Sparta and Middle-Wilcox oil sequences. Some or all of these objectives are located on the upper or lower Edwards Shelf, a geological event that extends from Central Texas eastward across all of Louisiana to the Gulf shores of the State of Mississippi. As set out above, targets that are mostly of virgin reservoir pressure, possess high permeability and are relatively identifiable via the application of state-of-the-art geology and geophysics. Ready access to markets which reduces the amount of capital required for transporting product to market. An example of this is that it is not always necessary to construct lengthy natural gas discharge pipelines and it is seldom necessary to do more than install petroleum storage tanks on producing oil leases, because the oil
