British oil and gas exploration company, Doriemus plc today announced the commencement of flow testing programme at its Brockham Oil Field targets.
In a release dated 20 December 2018, Doriemus plc (ASX: DOR) stated that the long-term flow testing in the targeted Kimmeridge layers of the BR-X4Z well at its Brockham Oil Field, has now been commenced.
Executive Chairman of Doriemus, David Lenigas stated that the company is pleased to see the commencement of the long-awaited flow testing of the Kimmeridge layers at Brockham. The work on site at Brockham is expected to attract many eyeballs from local and UK audiences.
But the operator of Brockham Oil Field, Angus Energy Plc informed the company that the long-term flow testing programme at Brockham would be suspended temporarily. It’s because the work-over rig team is reportedly going on Christmas and New Year break. As a result, the company will see its Brockham’s flow testing operations at halt from 23 December 2018 to estimated recommencement date, 7 January 2019.
Mr. Lenigas further appreciated the publicly announced intention of its operator to temporarily stop flow testing over the Christmas and New Year break. He said any unannounced break would have caused concerns as the flow testing programme underway.
Doriemus owns 10% interest in Brockham Oil Field which covers a license for 9.9 square kilometers located in the northern portion of Weald Basin in Surrey, Southern England. Moreover, Brockham is situated about 6km north-west of the Doriemus’ Horse Hill oil discovery.
At Horse Hill, the company has discovered a steady flow of oil in its extended well testing (EWT) programme. Commenting on the Christmas and New Year break, the company stated that the operator of Horse Hill had not advised any suspension or halt in flow testing operations at Horse Hill.
Doriemus Plc is a United Kingdom-based company. It operates oil and gas exploration and production business under the Energy sector. The company owns a substantial interest in Brockham oil field and Lidsey oil field, both located in the Weald Basin in Southern England. It also holds interests in the Petroleum Exploration and Development Licenses (PEDL) which includes Horse Hill Well.
On Australian Securities Exchange, Doriemus Plc is trading flat as at 20 December 2018 (1: 38 PM AEST). The last traded share price of DOR is $0.080 with a market capitalization of $4.64 million. Moreover, over the past one year the stock has fallen massively by 57.89%, and since its listing in September 2017, DOR has nosedived as much as 84%.
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