It is situated in Baile Olăneşti village (Barbanesti commune), of Valcea county, at about 30 km of Ramnicu Valcea, under the Capatinii Mountains. The access to the monastic settlement is made by DN 64A, Ramnicu Valcea – Baile Olanesti, passing by Pausesti-Măglaşi, turning left to Cheia village, then on Valea Cheii, on a forest road passable and accessible by car, till the Frumos Spring which bursts from the lime tree of some 50 meters long that grows under the rock on which the skete church is built, having the titular saint "Saint Prophet Elijah the Tishbite."
The antique documents of the skete show us that the founders of the skete, dating back to 1520 were monk Pahomie and Sava Haiducul, justifying in this way the name of the skete as Pachomius Skete from Frumos Spring.
By another inscription, this Pahomie would be no other than the great ban Craiovescu Barbu , founder of the Bistrita Monastery, which between the years 1519-1520, had rebuilt himself the Bistrita Monastery, which had been destroyed by the cannon of Mihnea Cel Rau back in 1509. He also built the Pahomie Skete, in memory of the fact that the Frumos Spring, from the Buila wilderness, in the way he had been looking to reach Sibiu, he escaped the wrath of Mihnea, finding salvation for him and for those who accompanied him in exile. Among his friends was the captain of the army Sava. Sava became “haiduc” for the fact that his master lingered for a long time in these areas, and he often made incursions by neighboring villages to get food.
The year 1684 from nowadays documents of the skete, is supposed to be the year when the skete suffered reconstruction works, in the same year was renovated, by Constantin Brancoveanu as a descendant of the Craiovesti family, Bistrita Monastery,.
Beginning with 17 December 1824, we have written data on the state of the skete " Izvorul Frumos " (beautiful Spring) – On the dependent monastery Iezer: "Church is to break down completely." Since 1880, the skete had been abandoned. Only in 1952 the church was rebuilt in its original form following the features of the remaining walls, with masons from Costesti and carpenters from Barbatesti, Stan Hermeanu made the painting back in 1956. With time the painting got damaged being redone in 1997 by Nicolae Popa Hierodeacon of Perişani.
The sanctification of the skete was made on September 30, 1956, by Bishop Iosif Râmnic, and was entrusted to the guidance of Father Veniamin from Patrunsa Skete.