DOR Doriemus

 
TIDMDOR 
 
1 November 2013 
 
                                 Doriemus Plc 
 
                         ("Doriemus" or the "Company") 
 
                           Placing to raise GBP360,000 
 
Doriemus Plc (AIM: DOR) is pleased to announce that further to the announcement 
of the farm-in and the joint operating agreements with Angus Energy Weald Basin 
No. 3 Limited ("Angus Energy") on the producing onshore Lidsey Oilfield 
("Lidsey") in West Sussex, the Company has raised GBP360,000, before expenses, by 
way of a placing ("the Placing") of 400 million new ordinary shares of 0.01 
pence each ("Placing Shares") at 0.09 pence per share. 
 
The Placing Shares have been unconditionally placed subject only to admission 
to trading on AIM ("Admission"). Application has been made for Admission and it 
is expected that the Placing Shares will be admitted to trading on AIM on 8 
November 2013. The Placing Shares will represent approximately 10.1 per cent. 
of the Company's enlarged issued share capital. 
 
Donald Strang, the Company's Chairman, commented: 
 
"This new funding will pay for the Company's share of the planned work-over and 
recompletion on the Lidsey-1 production well over the coming weeks and 
technical work relating to a potential new production well being planned for 
spudding early next year, the first new conventional oil well on the Oilfield 
since 1988." 
 
Total Voting Rights 
 
As of today the Company's total issued ordinary share capital is 3,559,999,998 
ordinary shares of 0.1 pence each. Following Admission of the Placing Shares, 
the Company's total issued ordinary share capital will comprise of 
3,959,999,998 ordinary shares of 0.1 pence each. These numbers may be used by 
shareholders in the Company as the denominator for the calculations by which 
they will determine if they are required to notify their interest in, or a 
change in their interest in, the share capital of the Company. 
 
The Lidsey Oilfield 
 
The Lidsey Oilfield is held under United Kingdom Production Licence PL241 which 
was granted on 2 December 1983. Oil was discovered on Lidsey in 1987 by Carless 
Exploration when an exploration well successfully flowed oil. Lidsey has one 
vertical producing well in the Jurassic, Great Oolite reservoir which has 
produced an average of 25 bopd of 38 API oil over the past 12 months. The 
Lidsey surface facilities are fully permitted and operational with onsite oil 
storage of 2,000 barrels. 
 
 
For further information please contact: 
 
 
Doriemus plc 
Donald Strang/Hamish Harris                               +44 (0) 207 440 0640 
 
Sanlam Securities UK Limited (Nominated Adviser and Broker) 
Simon Clements/Virginia Bull                              +44 (0) 207 628 2200 
 
 
 
END 
 

Doriemus (LSE:DOR)
Historical Stock Chart
Von Jun 2024 bis Jul 2024

Doriemus (LSE:DOR)
Historical Stock Chart
Von Jul 2023 bis Jul 2024