DOR Doriemus

 
TIDMDOR 
 
29 September 2014 
 
                                 Doriemus plc 
 
                         ("Doriemus" or the "Company") 
 
                 Drilling Update, Horse Hill-1, Weald Basin UK 
 
Doriemus Plc (AIM: DOR) today advises that the Horse Hill-1 well has now been 
drilled to the second casing point at 1,795 feet measured depth ("MD"), and the 
setting and cementing of a 13 3/8-inch steel casing is now underway. The bottom 
of the well is currently located in the upper part of the Jurassic and the well 
has encountered the expected mud gas up to C3 (propane) and mineral 
fluorescence just above current well depth. 
 
Geological analysis and mud logging from rock cuttings circulated out of the 
hole indicate that geological markers in the well are slightly shallower than 
initially prognosed based on seismic and the nearby Collendean - 1 well drilled 
by ESSO in 1964. The second casing point has been revised up from 1,865 feet MD 
to reflect this. 
 
The Horse Hill-1 well is located on the northern side of UK Weald Basin near 
Gatwick Airport and is planned to drill to a Total Depth ("TD") of 8,680 feet 
measured depth ("MD") to test a number of conventional oil and gas targets. 
 
The primary oil reservoir targets in this well lie in the Jurassic Portland 
Sandstone at about 2,200 feet true vertical depth below sea level ("TVD ss") 
and the Corallian Sandstone at about 3,440 feet TVD ss. There are also a number 
of secondary oil targets in the Jurassic aged formations, including the Great 
Oolite Limestone, estimated to be at 4,530 feet TVD ss. 
 
After setting the 13 3/8-inch casing, a 12 ½-inch hole will be drilled to a 
depth of approximately 5,900 feet MD where open-hole electric logs will be 
acquired through the prognosed oil reservoirs before setting a 9 5/8-inch 
casing. Then an 8 ½-inch hole will be drilled to TD in order to test for 
Triassic aged formations, which are expected to contain gas. 
 
Doriemus owns a 10% direct interest in Horse Hill Developments Ltd ("HHDL"). 
 
HHDL is a special purpose company that owns a 65% participating interest and 
operatorship of onshore licences PEDL137 and the adjacent licence PEDL 246 in 
the UK Weald Basin. The participants in the Horse Hill-1 well are HHDL with a 
65% working interest and Magellan with a 35% interest. 
 
Donald Strang, the Company's Chairman, commented: 
 
"We are pleased to see encouraging progress on this well and that the operator 
is now setting the second casing in a good seal just above the first of the 
primary targets in the Portland." 
 
Glossary: 
 
up to C3 (propane) - hydrocarbon gas liquids from spectrometry showing the 
presence of C1 (methane), C2 (ethane) and C3 (propane) 
 
MD - measured depth 
 
mineral florescence - light emitted by natural minerals showing, in some 
circumstances, the presence of hydrocarbons 
 
mud gas - gases recovered from the drilling fluids (mud) 
 
TD - total depth 
 
TVD ss - true vertical depth below sea level 
 
 
For further additional information please contact: 
 
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 
 
Square1 Consulting                      +44 (0) 207 929 5599 
David Bick 
Mark Longson 
 
 
 
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