FactsLake project delayed because of bankruptcy.The Four Rivers...

Facts

Lake project delayed because of bankruptcy.

The Four Rivers project extends from Winn, Concordia and
Catahoula Parishes in Louisiana to Adams, Jefferson and
Wilkinson Counties in Mississippi. Additional wells were
brought online during 2010. However, further exploration
ended in March as a result of the project?s operator filing
for Chapter 11 bankruptcy.

Pryme own rig barge,

Catahoula Lake
Catahoula Lake is approximately 30,000 acres in area and,
because of the need for specialised exploration equipment,
is relatively unexplored. Pryme Lake Exploration (?PLX?)
which is 50% owned by Pryme, holds various working
interests, ranging from 50% through to 100%, in acreage
located within Catahoula Lake and its surrounds. In
addition, PLX has an interest in the only equipment
available to drill and service wells on Catahoula Lake. This
provides Pryme with a significant competitive advantage
over other explorers over the entire area of the lake almost
all of which is prospective.