The Hogue Estate GT-4 offset well, located in the Glasscock Island area of the Wilcox Basin in Adams County, reached a total depth of 6218 feet (1895m).

The company said excellent oil shows were encountered in the primary target, Tew Lake Sand, over an interval 6058-6060ft, but the size of the discovery did not justify completing the well for production.

“The Hogue Estate GT No. 4 had what may have been a marginally commercial oil show in the Tew Lake sand but also provided evidence that the reservoir is lacking the size to cover the cost of drilling and completion,” the company said.

Meanwhile, another oil show in the E-2 sand, over an interval 6196-6211ft, did not have adequate permeability, except slightly deeper, which was too close to the oil/water contact. Additionally, the E-2 had cored oil shows in other wells in the area, none of which were commercially productive.

Pryme said the operator, US-based Belle Exploration, will use the log and core analysis from the GT-4 and previous tests to revise the maps and determine if another test is warranted. Pryme’s leases were extended for another year as a result of this test well.

The company funded 20%, or $US54,400 ($A71,892), of the cost to drill the GT-4 well.