Doriemus PLC - Council Approval for Drilling at Lidsey Oil Field

For Immediate Release

18 April 2017

DORIEMUS PLC

("Doriemus" or the "Company")

County Council approval for drilling of second production well at Lidsey Oil Field. 

Doriemus PLC is pleased to announce that the operator of the Lidsey Oil Field, Angus Energy Plc (“Angus” or the “Operator”), advise that the West Sussex County Council have now approved details under the provision of the planning consent for the proposed drilling of the second well, the new Lidsey-X2 onshore production well at the Lidsey Oil Field (PL241) near Bognor Regis in the south of the United Kingdom.

This second well on the Lidsey Oil Field is planned to be drilled to a depth of approximately 1,000 metres and will target the upper crest of the Great Oolite reservoir that has until being temporarily suspended in February 2016 produced oil from the Lidsey-X1 well which was first discovered in 1987. Lidsey-X2 will also assess the Kimmeridge formation which is located above the Great Oolite reservoir.

Under the provisions of the site planning consent, Condition 8 requires prior approval by West Sussex County Council of details of the drilling rig and equipment and the period of their use to drill additional wells. West Sussex County Council have now approved details under the provision of the extant planning consent for the proposed drilling of the second well together with their approval for a new site security fence and new site administration facilities comprising offices, toilets and mess facilities.

The Angus Energy Plc Lidsey Oil Field update news release is included below.

David Lenigas, Doriemus’s Chairman, commented;

“This is an important and timely approval from the West Sussex County Council, and Doriemus looks forward to participating in this important conventional oil production well in the southern part of the UK’s Weald Basin area. ”

Interest in Lidsey Oil Field (PL 235):

Doriemus owns a 20% direct interest in the onshore Lidsey Oil Field (PL 241) with an option to increase its holding to 30%.

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

Angus Energy Plc’s News Release dated 18 April 2017, is as follows:

18 April 2017

Angus Energy plc

("Angus Energy", “Angus” or the “Company”)

County Council approval for drilling of second production well at its Lidsey Oil Field. 

Angus Energy is pleased to announce that West Sussex County Council have now approved details under the provision of the planning consent for the proposed drilling of the second well, the new Lidsey-X2 onshore production well at the Lidsey Oil Field (PL241) near Bognor Regis in the south of the United Kingdom.

Angus Energy has planning consent for the development and operation of a three wellhead and beam pump oil production facility plus ancillary works at its Lidsey Oil Field. As permitted by the site planning consent, the first well has already been drilled at the site (Lidsey-X1) and the tophole/cellar completed and installed to enable a second well to be drilled (Lidsey-X2). This second well has not yet been drilled and is planned to be drilled to a depth of approximately 1,000 metres and will target the upper crest of the Great Oolite reservoir that has until being temporarily suspended in February 2016 produced oil from the Lidsey-X1 well which was first discovered in 1987. Lidsey-X2 will also assess the Kimmeridge formation which is located above the Great Oolite reservoir.

Under the provisions of the site planning consent, Condition 8 requires prior approval by West Sussex County Council of details of the drilling rig and equipment and the period of their use to drill additional wells. West Sussex County Council have now approved details under the provision of the extant planning consent for the proposed drilling of the second well together with their approval for a new site security fence and new site administration facilities comprising offices, toilets and mess facilities.

There is no change to the Company’s earlier guidance with regards to operations at its Brockham Oil Field.

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

“We welcome the news from West Sussex County Council. The Lidsey-X2 well fully aligns with our business plan of providing low cost, low geological risk, long term conventional oil production.

Lidsey-X2 will target the upper crest of the producing Great Oolite reservoir and will also pass through the Kimmeridge layers allowing us to electronically log the layers and sample the drill cuttings for a detailed comparison to the encouraging results Angus encountered at Brockham-X4Z.

Subject to Environmental Agency consent and approval from the Health and Safety Executive for Lidsey-X2 (both are in process), we will ask the Oil and Gas Authority for consent to drill Lidsey-X2”

END

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