9 August 2017
Doriemus Plc
("Doriemus" or the
"Company")
OGA approval for
the drilling of Lidsey-X2 development well
Doriemus (NEX: DOR) is pleased to announce that the operator of
the Lidsey onshore oil field, Angus Energy Plc (“Angus Energy”),
have advised that it has today received permission from the UK Oil
and Gas Authority (“OGA”) to drill and than produce from the
Lidsey-X2 horizontal production well at its Lidsey production oil
field, license PL 241.
Importantly, Angus Energy has now obtained all regulatory
consents to drill and produce Lidsey-X2.
Today’s announcement follows the required approvals already
received from the West Sussex County Council (“WSCC”) and the
Environmental Agency (“EA”) as stated in the Company’s announcement
of of 18 April 2017 and
2 May 2017.
The Lidsey Oil Field is located near Bognor Regis in the south
of the United Kingdom. Lidsey-X2
production will target the upper crest of the producing Great
Oolite reservoir. It passes through the Kimmeridge layers allowing
for the detailed logging and sampling of drill cuttings. This data
will be analysed and compared to the encouraging results at
Brockham-X4Z.
The Company notes its timeline for Lidsey-X2 to re-commence
production from Lidsey has been delayed by a few weeks due to the
extension of BDF Rig 28’s current work obligations for an unrelated
third party. These modified operations have therefore slightly
postponed the equipment mobilisation date to the Lidsey oil
field.
The Company expects an operating window of approximately six
weeks from the rescheduled mobilisation date to actual production
from Lidsey-X2.
David Lenigas, Doriemus’s Chairman,
commented;
“This is excellent news for the Company and
the development of the Lidsey-X2 production well aligns well
with Dorioemus’s stated focus of becoming a significant
convention onshore oil producer.”
Interest in the Lidsey Oil Field (PL
241):
Doriemus owns a 20% direct interest in the onshore Lidsey Oil
Field (PL 241) which has the right under the 21 November 2013 Farm-Out Agreement, to own 30%
of the next well on the Lidsey Oil Field. This next well is the
proposed Lidsey-X2 well.
The directors of the Company accept responsibility for the
contents of this announcement.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information, please
contact:
Doriemus Plc
www.doriemus.com
David Lenigas (Executive
Chairman)
+44 (0) 20 74400640
Hamish Harris (Non-Executive
Director)
Peterhouse Corporate Finance
Limited
+44 (0) 20 7469 0930
Guy Miller
Fungai Ndoro