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Lidsey Oilfield Update

9th Dec 2013 11:10

DORIEMUS PLC - Lidsey Oilfield Update

DORIEMUS PLC - Lidsey Oilfield Update

PR Newswire

London, December 9

9 December 2013 Doriemus Plc ("Doriemus" or the "Company") Lidsey Oilfield Update - Lidsey-1 workover. Doriemus Plc (AIM: DOR) announces that the operator of the Lidsey-1 well, AngusEnergy Weald Basin No.3 Limited ("Angus Energy"), yesterday logged a total of28 feet of virgin unperforated Greater Oolite reservoir from 3,320 feet downhole MD (measured depth) down to 3,348 feet MD. The top 15 feet of the Greater Oolite formation was perforated yesterday from3,320 feet MD down to 3,335 feet MD. In order to maximise the potential flow rates from the Lidsey-1 well, a moredetailed logging programme will be undertaken to determine the exact locationof the current producing interval, the oil water contact point and potentiallyto isolate this water. A further perforation programme may be undertaken in thecoming days on the additional virgin zones prior to putting the well back in toproduction. The well is being re-completed for anticipated increased productionlevels with updated down hole equipment. -END- For further information please contact: Doriemus plc +44 (0) 20 7440 0640 Donald Strang / Hamish Harris Sanlam Securities UK Limited +44 (0) 20 7628 2200 Nominated Adviser and Broker Simon Clements / Virginia Bull Notes to Editors: The Lidsey Oilfield is owned by Angus Energy Weald Basin No. 3 Limited (80%interest and Operator) and Doriemus (20% interest), and is held under UnitedKingdom Production Licence PL241. Lidsey has one vertical producing well(Lidsey-1) in the Jurassic, Great Oolite reservoir producing 38 API oil. TheLidsey surface facilities are fully permitted and operational with onsite oilstorage of 2,000 barrels. All production is currently sold to the Perenco BPrefinery.

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