The project consists of shallow, multiple-stacked oil-bearing pay zones in the Middle Wilcox formation.
Pryme has started drilling the McIntyre-1 well, the first of ten planned wells to be drilled in 2014, and will earn a 4% carried interest in the well.
The company is the operator of the drilling programme.
Pryme can also choose to increase its working interest in each prospect based on technical and economic evaluation criteria.
The
