Doriemus increases stake in Lidsey field

Doriemus is increasing its participating interest in the Lidsey oil field in West Sussex from 10% to 20% with immediate effect following an agreement with Angus Energy Weald No. 3.

Doriemus still has a first right of refusal to increase its participating interest in Lidsey from 20% to 25%.

good time to buy imo - steady news flows and next news very close
oil on your door step as opposed to some war torn corrupt location around the globe - onshore and a lot cheaper than north sea production

looking good right now - phase 2 news imminent

gla

I'm in as of last week..good story developing here (imho)

well done sky - this is a fantastic opportunity and great time to get in early - onshore uk oil producer without the expensive north sea costs or stuck in some war zone like Somalia, Iraq etc

great rns today - work to be completed this week - expect further good news probably Friday or earlier this week - or at worst imo Monday next week

will be steady buying through to news then see what happens on news - should be .35 / .4 range prior to news then.......................

gl

and moving north strongly as I type this :-0

fantastic additional news on the brookham field no one was expecting today - also expect an additional rns for lidsey field most likely today
onwards & upwards we go imo

rns - additional oil at brokham field - all bodes very well - and rumoured new oil zones perforated at lidsey field which if true will be fantastic news - rns lidsey field due anytime as per the last rns - waiting for cpr improvement confirmation - last time lidsey tripled output - if this is repeated again or better I will leave the maths to you...........................

I'm still in ...watching and waiting!

first rns - onwards and upwards fast............................

extract

'The well is being re-completed for anticipated increased production
levels with updated down hole equipment'

read the rest further great news

shame the sp hasn't responded pos+ but patience is needed!

indeed - fantastic news today and perhaps more north tomorrow - gla


Doriemus confirms 1000%-plus rise in Lidesey-1 output

StockMarketWire.com

Oil production at the the Lidesey-1 well in the UK Weald basin has increased by more than 1000% since the start of a work-over programme, according to Doriemus.

The company - which has a 20% working interest - says the well is flowing at a restricted rate of 312 barrels of oil per day following the successful recompletion and perforation programme.

Doriemus says the ultimate production potential is not known at this stage, as oil production is restricted due to the current limiting capacity of the pumping facilities.

Chairman Donald Strang said: "Oil production has now increased by over 1,000% from the 25 bopd reported prior to the commencement of the work-over programme. This is a record for the Lidsey oil field. At this flow rate, cost of oil production is less than $10 a barrel.

"The Lidsey-1 well work-over has been a success and the company is looking forward to participating in the proposed Lidsey-2 well next year.

"The short term production focus for the Company will now shift to Brockham, where a well improvement programme is currently under way and where the partners plan for a new side track/work-over well on Brockham-4 early in 2014."

http://shares.telegraph.co.uk/news/article.php?id=4725696&epic=DOR

interesting day ahead - in the newspapers I see

gla

remember this is onshore uk oil producer producing at cost of only $10 / barrel to produce

not in some war zone remote location like Somalia Iraq or falklands..............

gl

dor in bold at the bottom of this article!!

http://www.dailymail.co.uk/money/markets/article-2524913/MARKET-REPORT-City-gets-excited-media-giant-Liberty-Global-mulls-C-W-bid.html

Suprised no posts on this lately ?

This is looking a very exciting stock to be in at these levels,the Lidsey field will be
adding significant additional production during Q1 and they now have Brockham on
line which could match the results at Lidsey with the workovers.Also the stake they
have in the Horse Hill field does look a shrewd move for the future.

Next few weeks should see some decent news flow.

I sold out of these last week and went into AMED, PROX & MEN..wasn't convinced about DOR and near term sp performance but will consider DOR again at a lower level.. GL Mikel 4.

Skyhigh,good luck to you too :-) hope you don,t miss out on a super opportunity here.

Interesting little prospect this i may be tempted to bag some !

FYi check the doriemus website today as there has been a change in the major
shareholders list.It is now clear that angus energy holding has been snapped up
by a number of II,s and was the reason for the decline in sp.

This could now show some very impressive gains now these holdings sorted!