Highlights:

• UK onshore Lidsey and Brockham Oil Fields commence production at a gross aggregate estimated flow rate of 212 barrels of oil per day.
• Lidsey Oil Field resumes oil production at an estimated flow rate of 191 bopd.
• Brockham Oil Field resumes oil production at an estimated flow rate of 21 bopd.
• Beginning of meaningful cashflow

Doriemus Plc advises that Angus Energy Plc the operator of both the Brockham and Lidsey Oil Fields in the UK’s onshore Weald Basin, has now resumed conventional oil production from two of Doriemus’s conventional UK onshore oil and gas portfolio assets.

The Operator has advised that production has now resumed from the Portland Reservoir of the BR-X2Y well at the Brockham Oil Field (located about 10km north-west of the UK’s Gatwick International Airport) and the Great Oolite Reservoir at the Lidsey Oil Field (located about 50km south-west of Brockham) from the Lidsey-X1 and the Lidsey-X2 wells.

On 29 March 2018, the Operator announced that these three wells, were producing at a gross aggregate estimated flow rate of 212 barrels of oil per day (“bopd”).

The Operator has advised that combined estimated flow rates from the Lidsey Oil Field wells, X1 & X2 is 191 bopd. The Brockham Oil Field has resumed production with a reported estimated flow rate of 21 bopd. The Operator announced that they expect the Brockham BR-X2Y flow rate to increase to roughly 35 bopd within approximately 7 days once initial water slugging has stopped. A natural decline of the production flow rates from these wells is expected over time.

The Operator also reported that routine oil exportation (off-take) of all production from the two oil fields would also commence imminently. 

All operations at Lidsey and Brockham are performed through conventional production techniques. There will be no hydraulic fracturing or “fracking”. All other prior guidance for Brockham oil field remains unchanged. The Company has a minority interest in the Brockham and Lidsey Oil Fields and relies on information provided to it by the Operator.