Doriemus PLC - Brockham work completed and hydrocarbons encountered

For Immediate Release

26 January 2017

DORIEMUS PLC

("Doriemus" or the "Company")

UK onshore Brockham Oil Field Update

Work completed and hydrocarbons encountered in all targeted zones.
 

London-quoted Doriemus PLC (NEX: DOR) announces that the operator of the Brockham Oil Field, Angus Energy Plc, has provided an update today with respect to the Brockham Oil Field stating that work to complete, log, case and cement the well at the Brockham Oil Field has now been successfully completed and potential reservoirs have been logged in the Portland, Kimmeridge and Corallian layers with all three formations having hydrocarbon shows. The full Angus Energy Plc Brockham update news release is included below.

David Lenigas, Doriemus’s Chairman, commented;

“Very positive news indeed that hydrocarbons have been encountered in the Portland and the Kimmeridge formations at the Brockham well as per the nearby Horse Hill -1 well. Even more encouraging is that oil and gas shows are evident in the deeper Corallian formation, something that was not tested in the Horse Hill well testing programme at the beginning of 2016. Doriemus is a shareholder in both Brockham and Horse Hill oil plays in the Weald Basin just north of London’s Gatwick International Airport and these Brockham well results to date bodes well for the oil propspectivity of the wider Weald Basin.”

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.

Angus Energy Plc’s News Release dated 26 January 2017, is as follows:

“Brockham oil field - Work completed and hydrocarbons encountered in all targeted zones

Angus Energy plc (the “Group”) is pleased to confirm that, further to the 18 January 2017 announcement, work to complete, log, case and cement the well at the Brockham oilfield has now been successfully completed and potential reservoirs have been logged in the Portland, Kimmeridge and Corallian layers with all three formations having hydrocarbon shows.

The 6” hole has been electronically logged using quad combo and Ultra Wave fracture analysis, it has been cased and cemented, whilst the old open hole side-track has now been abandoned and cemented up back to inside the main well casing.

The well will now, upon OGA confirmation, be renamed BR-X4Z.

Further log analysis and  laboratory work is currently being undertaken to provide a better understanding of the Kimmeridge and other formations, but from the evidence so far, these appear to be the same in structure to the oil bearing Kimmeridge sections in the nearby Horse Hill-1 well. Notably, the Corallian formation, which lies immediately below the Kimmeridge, had both oil and gas shows.

Jonathan Tidswell-Pretorius, the Company's Chairman, commented:

"We are pleased to have encountered hydrocarbon shows missed in the previous drilling by BP in 1987 in the three Kimmeridge target intervals and are delighted to see encouragement for the predicted analogy to the Horse Hill geology. Encouragingly, we have also seen oil and gas shows in the underlying Corallian. Further analysis is underway to identify the extent of hydrocarbon presence and the ability of these hydrocarbons to freely move into the wellbore. New Ultra Wave well logging technology has been used in the logging of this well and will, once analysed, allow us to make an image of the borehole wall in order to map the presence of, and density of, natural fractures in the target reservoirs. This will enable us to target the most prospective zones which have the highest potential for future production.”

We will update the market as soon as possible with the results of the further analysis and as we progress further down the path towards production.

Qualified Person's Statement:

Chris de Goey, a Non-Executive Director of the Company, who has over 20 years of relevant experience in the oil and gas industry, has approved the information contained in this announcement. Mr de Goey is a member of the Petroleum Exploration Society of Great Britain and the Society of Petroleum Engineers.

END.”

The directors of the Company accept responsibility for the contents of this announcement.

For further information please contact:

Doriemus Plc:

www.doriemus.com

David Lenigas (Executive Chairman)                                                              [phone]

Hamish Harris (Non-Executive Director)

Peterhouse Corporate Finance Limited                                                        [phone]

Guy Miller

Fungai Ndore

Square 1 Consulting (Public Relations)                                                           [phone]

David Bick

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