7 November 2013

                                 Doriemus Plc

                         ("Doriemus" or the "Company")

              Lidsey Oilfield - Commencement of work on Lidsey-1

Doriemus Plc (AIM: DOR) is pleased to announce that the operator of the Lidsey
Oilfield ("Lidsey") in West Sussex has today commenced phase one of the
work-over and re-completion of the producing Lidsey-1 well.

Donald Strang, Doriemus' Chairman, commented:

"The Company expects to see a significant increase in daily oil production from
the current 25 bopd, particularly after the new perforation phase of the
programme with new oil formations being opened above the existing productive
sandstone. The current production of 25 bopd comes from a 2 foot perforated
section of the Oolite reservoir, originally perforated in 1988, and the
operator has now opted to complete 30 feet of new perforations instead of the
10 feet as previously announced."

The full programme on Lidsey-1 will comprise a well stimulation, a full
clean-out to total depth and perforation of new oil zones which will be
determined after a new extended logging run, followed by a new completion
assembly. The entire programme is expected to be completed within two to four
weeks.

In addition to the current work-over program an additional 48 kilometres of
seismic data of the Lidsey Oilfield has been purchased and reprocessing is
planned to identify possible new drilling targets and provide an updated CPR
and an updated reserves report.

The Lidsey Oilfield is owned by Angus Energy Weald Basin No. 3 Limited (90%
interest and operator) and Doriemus (10% interest), and is held under United
Kingdom Production Licence PL241. 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.

New oil production rates will be announced after the Lidsey-1 well is put back
in to production.

For further information please contact:

Doriemus plc

Donald Strang +44 (0) 207 440 0640

Hamish Harris

Sanlam Securities UK Limited (Nominated Adviser and Broker)

Simon Clements/Virginia Bull +44 (0) 207 628 2200

Copyright er 7 PR Newswire

Doriemus (LSE:DOR)
Historical Stock Chart
Von Jun 2024 bis Jul 2024 Click Here for more Doriemus Charts.
Doriemus (LSE:DOR)
Historical Stock Chart
Von Jul 2023 bis Jul 2024 Click Here for more Doriemus Charts.