23 October 2017
Doriemus Plc
("Doriemus" or the
"Company")
UK Government Oil
and Gas Authority Approval Granted
Brockham Oil
Field, Weald Basin, UK
Doriemus plc (Listed in Australia ASX:DOR and listed in London
NEX:DOR) (“Doriemus” or the “Company”), is pleased to
announce that it has been informed by the operators of the Brockham
Oil Field, Angus Energy Plc (the “operator”), that it has
received final approval from the UK Government’s Oil and Gas
Authority (“OGA”) for its Field Development Plan Addendum at the
Brockham Oil Field (Production License PL235).
David Lenigas, Doriemus’s Executive Chairman, commented;
“This is excellent news for the Brockham Oil Field. We at Doriemus
now have a great deal of activity happening at both our Brockham
and Lidsey Oil Fields and will soon be conducting the extended well
testing programme at the Horse Hill -1 “Gatwick Gusher” well as
announced last week.
The Brockham Oil Field is a fully permitted production licence
and sits immediately north-west of the Horse Hill licences, in
which Doreimus holds an interest.
This OGA approval is the final regulatory consent needed to
begin production from the Kimmeridge layers in well BR-X4Z
(“X4Z”).
The X4Z Well will inititially produce from a 200 meter (“m”)
naturally fractured section of a 385m thick Kimmeridge interbedded
shale and limestone layer. Further technical quidance can be found
in the Company’s news release of 3 March
2017. In Summary from the 3 March news release stated:
“The Brockham X4Z well, drilled to a total depth of 1,391m, was
planned to evaluate the Portland, Corallian and Kimmeridge
formations at Brockham including an evaluation of the Kimmeridge
reservoir that had been demonstrated by the Horse Hill discovery 8
km to the South. The operator of the well at Horse Hill has
announced cumulative production rates of over 1,500 barrels per day
in short term testing. The Brockham X4Z well was intended to
establish whether the evidence of a potential reservoir
reported at Horse Hill extended further North into the
Brockham Licence.
The operator announced that the preliminary results from
Brockham X4Z confirm very similar thickness of reservoir and
properties to those reported at Horse Hill. The gross thickness of
Kimmeridge in Brockham X4Z is some 385m thick. The two
limestone intervals (each around 30m) tested in Horse Hill are also
seen in the Brockham well. The reservoir properties appear to be
very similar to Horse Hill, based on electrical logging
evidence.”
Prior to initiating production, the operator will first install
a connection to the UK’s National Grid for the distribution
of excess power generated on-site. This power generation will have
the added benefit of allowing the Company to supply surplus power
to the National Grid.
Upon completion of this installation, production from X4Z will
commence. Doriemus will update the market in due course.
The Company reiterates there will be no hydraulic fracturing or
“fracking” at the Brockham Oil Field.
Interest in Brockham Oil Field (PL
235):
Doriemus owns a 10% direct interest in the Brockham Oil Field
which is held under UK Production Licence PL 235.
The directors of the Company accept responsibility for the
contents of this announcement.
CONTACTS:
For further information on this update or the Company generally,
please visit our website at
www.doriemus.co.uk or contact:
Doriemus Plc
UK Contacts:
David Lenigas (Executive
Chairman)
+44 (0) 20 7440 0640
Greg Lee (Technical
Director)
Australia Contacts:
Julia Beckett (Joint Company
Secretary)
+61
(08) 6141 3500
Email: julia.beckett@wolfstargroup.com.au
UK Advisors:
Peterhouse Corporate Finance
Limited
+44 (0) 20 7469 0930
Guy Miller
Fungai Ndoro
FORWARD LOOKING STATEMENTS AND
IMPORTANT NOTICE:
This document may contain forward looking statements that are
subject to risk factors associated with the oil and gas industry.
It is believed that the expectations reflected in these statements
are reasonable, but they may be affected by many variables which
could cause actual results or trends to differ materially.
Investors should make and rely upon
their own enquiries before deciding to acquire or deal in the
Company’s securities.
This report contains forecasts, projections and forward looking
information. Although the Company believes that its
expectations, estimates and forecast outcomes are based on
reasonable assumptions it can give no assurance that these will be
achieved. Expectations, estimates and projections and
information provided by the Company are not a guarantee of future
performance and involve unknown risks and uncertainties, many of
which are out of the Company’s control. Actual results and
developments will almost certainly differ materially from those
expressed or implied. The Company has not audited or investigated
the accuracy or completeness of the information, statements and
opinions contained in this report. To the maximum extent
permitted by applicable laws, the Company makes no representation
and can give no assurance, guarantee or warranty, express or
implied, as to, and takes no responsibility and assumes no
liability for (1) the authenticity, validity, accuracy, suitability
or completeness of, or any errors in or omission from, any
information, statement or opinion contained in this report and (2)
without prejudice to the generality of the foregoing, the
achievement or accuracy of any forecasts, projections or other
forward looking information contained or referred to in this
report.
