DORIEMUS PLC - Environment Agency Permits Granted
06 August 2014 - 1:00PM
PR Newswire (US)
Doriemus plc
("Doriemus" or the "Company")
Update on Horse Hill Prospect, UK
Environment Agency Permits Granted
Doriemus Plc (AIM: DOR) announces that Horse Hill Developments Ltd ("HHDL") has
now been granted final approvals from the UK Environment Agency to proceed with
the drilling of the Horse Hill -1 well at Horse Hill in Surrey.
Doriemus has a binding agreement in place to own a direct 10% interest in HHDL,
a special purpose company that owns a 65% participating interest and
operatorship of onshore licence PEDL137 in the Weald Basin.
Donald Strang, the Company's Chairman, commented:
"Recent heavy rainfall in the area has unfortunately delayed the completion of
site construction works, however the concrete cellar is on-site and is ready to
install once the ground conditions allow. We look forward to spudding of this
important Horse Hill-1 well shortly."
The participants in the Horse Hill-1 well are HHDL (Operator) with a 65%
working interest and Magellan Petroleum Corporation with a 35% interest.
Enquiries:
Doriemus plc +44 (0) 20 7440 0640
Donald Strang/Hamish Harris
Cairn Financial Advisers LLP +44 (0) 20 7148 7900
Nominated Adviser and Broker
James Caithie/Jo Turner/Carolyn Sansom
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