Sharesmagazine
 Home   Log In   Register   Our Services   My Account   Contact   Help 
 Stockwatch   Level 2   Portfolio   Charts   Share Price   Awards   Market Scan   Videos   Broker Notes   Director Deals   Traders' Room 
 Funds   Trades   Terminal   Alerts   Heatmaps   News   Indices   Forward Diary   Forex Prices   Shares Magazine   Investors' Room 
 CFDs   Shares   SIPPs   ISAs   Forex   ETFs   Comparison Tables   Spread Betting 
You are NOT currently logged in
Register now or login to post to this thread.

Doriemus Plc - Oil Production in the UK (DOR)     

Alex 36 - 22 Feb 2014 17:20



Doriemus Plc is a natural resources investment company with a current focus on and in a portfolio of UK based oil & gas production assets.Investments may be considered in various regions to the extent that the New Board considers that value opportunities exist
and attractive returns can be achieved.

http://www.doriemus.co.uk/


Current Asset Base :

A participating interest of 20% in the Producing Lidsey Oilfield
in West Sussex and an exclusive option to increase to 25%.

A participating interest of 10% in UK Production Licence PL 235,
which comprises the producing onshore Brockham Oil Field in Surrey.

A participating interest of 7.5% in The Horse Hill Petroleum Exploration
and Development Licence No. 137 (PEDL 137) located in Surrey.




Alex 36 - 23 Feb 2014 10:13 - 2 of 76

Have just set this new thread up for doriemus as does not seem to be any comment
on the site for this company.Have spent the last few weeks researching and following
this and think it could soon be making impressive gains.According to the last updates
on the two producing uk fields they have stakes on they are getting a net 74 bopd
which is around £1.2m of revenue currently,market cap here is under £7m ! Some new
workovers about to start could push that revenue far higher very quickly.

One for the ISA this !

Robbie C - 23 Feb 2014 11:59 - 3 of 76

Hi alex i think i might jump in here :-)

unluckyboy - 23 Feb 2014 13:49 - 4 of 76

This week will be a great week. Get in early if you want, two CPR are due this week. Bring it on. Big gains will be had.

unluckyboy - 23 Feb 2014 22:47 - 5 of 76

http://www.stockopedia.com/content/doriemus-plc-investing-in-uk-oil-production-81568/. Great read, get in early to reap the rewards.

unluckyboy - 24 Feb 2014 16:03 - 6 of 76

Well I hope you all got in early today. Up over 50% and this is all before the 2 CPR which is due this week. Bring it on.

unluckyboy - 27 Feb 2014 07:45 - 7 of 76

Only 2 days left for CPR.
Then the rest to follow.
1--Lidsey CPR

2--Brockham workover.

3--Brockham sidetrack spud.

4--Lidsey spud.

5--Brockham CPR

6--HH increase in stake.

7--Brockham increase in stake.

8-Lidsey increase in stake.

9--Further Lidsey flow results improvements.

gibby - 13 May 2014 10:00 - 8 of 76

I would not want to be out of dor right now!! news is imminent and bargain basement right now
gla

Square Miler - 13 May 2014 13:46 - 9 of 76

Guys for your information i was driving down to dorking this morning with my job and i had to divert my
route near to the brockham site.I think there is something major going on there as the traffic was backed
up near the site entrance with what looked like two large lorries carrying some heavy plant equipment.

Alex 36 - 13 May 2014 23:18 - 10 of 76

square miler...thanks for the info on brockham :-) is good to know we about to start.

Alex 36 - 14 May 2014 15:12 - 11 of 76

gibby...i think this share is about to get very exciting with multiple newsflow due.

Robbie C - 16 May 2014 13:58 - 12 of 76

This may interest you guys,i have a pal who is able to get access to official share registers and i asked him to look into the recent changes and placings at doriemus.It seems the latest placing was conducted by peel hunt on behalf of the oil guru Tony Buckingham.I was a former holder of HOIL so i see this as an interesting move for Mr Buckingham and tallies with something he said in a recent interview about seeking "Uk assets".I wonder if this slight delay was to allow a certain someone to get in cheap?


This is what the register states


PEEL HUNT HOLDINGS LIMITED* : 470,095,750m / 9.0%

* 450m held on behalf of Mr Anthony Leslie Rowland Buckingham

Alex 36 - 17 May 2014 12:36 - 13 of 76

robbie...do you mean Tony Buckingham of heritage oil has bought a stake here via
peel hunt?

If so that would be a very interesting development.As i understand it someone
bought a tad under 500m shares at 0.10p under the cloak of peel hunt holdings recently.
What i have found curious is that every time i look on level 2 lately since that placing
is that peel hunt are also actively buying more shares.This could mean that whoever
they arranged the placing for is very keen to buy more at this low level and they are
helping them do it.I believe it is possible for an investor to hold up to 30% via a
holdings nominee before they have to declare their position.

I note that Tony Buckingham is loaded with cash after that recent deal done at
heritage oil :-) Interesting few months ahead IMO and horse hill about to start!
I might grab a few more of these myself :-)

Stock Lee - 18 May 2014 11:02 - 14 of 76

I will be coming aboard here next week looks a decent punt.

theukboss - 18 May 2014 22:47 - 15 of 76

This was posted elsewhere by myself but may be of interest to some of you. I emailed Don Strang on Friday and this was his reply.

My email to him:

Hi Don,
Firstly, thanks for the "clarity" we now have regarding the RNS issued today, let us hope we can now move things along. Could i ask One thing. The RNS mentioned a 13 week delay at Brockham, could you tell me from what date the 13 week delay starts from Please?

One other thing Don, there are many rumours as you know about all manner of things these day's. One "rumour" is that the new investor is "Tony Buckingham", are you in a position to confirm or deny this Please?. As yet no official TR-1 form has been issued and as we know these shares are being held by PEEL HUNT on behalf of?

I would not trouble you further as im sure you have many emails, etc and a heavy workload but if you could answer the above if possible i would be most grateful.

Hoping for a reply

Don Strang's reply:

Hi ******

Things are very busy at moment.

I note your comments.

Yes we are all frustrated but things do take time in this country. Unfortunately that is fact. But - The good news is....the assets are still ours!! Let's not forget that. We trying to make them work better and we have stressed this point to the Operator.

Bit like the English cricket team. It can and will do better. Soon!!

We have beaten the Operator up as much as we can, without tipping them over the edge. Constructive criticism works well.

I am sure the sun will keep shining soon.

I have no comment on your last point at this stage.

Interesting times ahead.

Be very rest assured. 8 months ago this company was almost nothing value. The board is working hard to achieve as best as we can with resources available. We all want to keep things moving. Good for everyone

Thanks for taking time to communicate

Sorry for late reply but I am busy man at moment.

Thanks Don

Alex 36 - 19 May 2014 11:04 - 16 of 76

These figures on Horse Hill look very impressive


Table 1: Horse Hill Prospect estimated OOIP, OGIP and Prospective Resources.


Target Resevoir Oil / OOIP Upside Potential (MMSTB) / OOIP Mean (MMSTB) / Prospective Resources (MMSTB )

Upper Portland Sandstone .........: 116: ...................................: 57 .....................................: 17
Lower Portland Sandstone .........: 284 ....................................: 147 ....................................: 44
Corallian Sandstone ..................: 67 .....................................: 33 ......................................: 10
Greater Oolite Limestone ...........: 204 ....................................:104 .....................................: 16
Total Oil .................................: 671 ....................................:371 .....................................: 87


Target Reservoir Gas / OGIP Upside Potential (Bcf) / OGIP Mean (Bcf) / Prospective Resource(Bcf)

Triassic Sandstone ...........: 456 ...........................: 234 ........................: 164

Alex 36 - 19 May 2014 11:26 - 17 of 76

theukboss...many thanks for sharing the email,if tony buckingham has taken a stake
here things will get rather interesting to say the least.Has impressive record.

theukboss - 19 May 2014 17:27 - 18 of 76

I noticed PEEL was again keen on the Bid again today and they are the holder of these shares. Also no TR-1 as yet, i'm led to beleive the only reason it should not get released within 72 hours is if the holder is actively increasing their stake

gibby - 30 May 2014 15:28 - 19 of 76

i would not want to be out of dor this weekend!!

gla

lidsey 1 & 2, brook, hh, % increase, et cetera due anytime

required field - 31 May 2014 13:36 - 20 of 76

Total production per day is : 6.5 barrels and 7.2 per day......really mouthwatering ......this not worth more than 5p or less...and they own: 10% of ..65% of horsehill.....yep....perhaps 4p at the most...as it is all perhaps with this company...

gibby - 04 Jun 2014 13:12 - 21 of 76

this will multibag off these level rf - anytime now dont forget the £0.5M cash dor have just received - onwards and upwards
strong buy - dont be too late
easy cash expect imminent multibag on intraday at the very least
dont forget dor chairman strang is cfo of rem and other lenigas companies :-)))))

gibby - 09 Jun 2014 08:18 - 22 of 76

onwards & upwards - seriously wont be this cheap for long - strong stream of news due here imminently
gla

mitzy - 10 Jun 2014 09:02 - 23 of 76

Good bit of buying this am.

gibby - 10 Jun 2014 13:06 - 24 of 76

hi mitzy - i'm expecting .15 / .25 range quite soon
loads of stuff happening
onwards & upwards
cheers

mitzy - 10 Jun 2014 14:46 - 25 of 76

Good luck gibby.

gibby - 11 Jun 2014 08:18 - 26 of 76

cheers mitzy and you

first rns just out - much more to come

atb

gibby - 12 Jun 2014 10:28 - 27 of 76

yeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

gla

still loads to come here - multi baggggerrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr

required field - 13 Jun 2014 09:36 - 28 of 76

Can't believe this....way overvalued and yet...soaring...well done you lot...even though I'm still not convinced...

gibby - 13 Jun 2014 13:16 - 29 of 76

thanks rf - more to come, lidsey 1, then 2, hh, brockham, increase license % etc

atb

&

yeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

:-D

gibby - 18 Jun 2014 15:44 - 30 of 76

i would not want to be out of dor right now!!
gla

gibby - 23 Jun 2014 12:30 - 31 of 76

yeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

gla

kimoldfield - 23 Jun 2014 16:46 - 32 of 76

Are you holding any UKOG gibby? An even bigger yeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa!

gibby - 23 Jun 2014 21:10 - 33 of 76

evening kim - yes indeed ukog also :-))) not forgetting good old ujo................

fully agree for all of them to differing degrees,,,,,,,,,,,,,,,,,,,,

yeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaakerrrrrrrchinnnnnnggggggggggggggggggg!

atvb

kimoldfield - 23 Jun 2014 22:42 - 34 of 76

Haha! Nice!

gibby - 25 Jun 2014 11:39 - 35 of 76

:-)

good here right now just under .21 to buy - easy money
gla

kimoldfield - 25 Jun 2014 12:36 - 36 of 76

Needs a bit of extra kerrrrrrrchinnnnnnggggggggggggggggggg at the moment gibby! Lidsey news needs to get a spurt on! :o)

gibby - 26 Jun 2014 11:49 - 37 of 76

lol kim - its a gusher!! news extremely close now - just how many bopd is the question - then lids 2, hh et cetera
real good buy sp right now - lunchtime bargain hunters probably snap them up then back to evens or a bit blue today if no rns till tomorrow
i can smell the cash already :-))
atvb

gibby - 27 Jun 2014 11:10 - 38 of 76

bargain right now - end the day blue - gla

gibby - 27 Jun 2014 12:39 - 39 of 76

ticking
;

yeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

mitzy - 03 Jul 2014 08:42 - 40 of 76

Falling away today.

kimoldfield - 03 Jul 2014 09:34 - 41 of 76

I don't know what investors expected from Lidsey, the fact that is producing more oil, though it will never be hugely significant from Lindsey-1, is something to be cheerful rather than grumpy about! 😊

kimoldfield - 14 Jul 2014 14:16 - 42 of 76

DOR is being tipped to be the Horse Hill share to be in at the moment, mainly it would seem, because of it's 20% interest in Lidsey and 10% in Brockham in addition to it's 10% holding in Horse Hill. Cheap as chips then at the moment!

gibby - 16 Jul 2014 16:06 - 43 of 76

money making buy price - only .1724 to buy atm
wont be that for long
yeeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

gibby - 21 Jul 2014 07:38 - 44 of 76

vital approval received
Doriemus PLC

Update - Horse Hill


21 July 2014

Doriemus plc

("Doriemus" or the "Company")

Update - Horse Hill

Doriemus Plc (AIM: DOR) announces that Horse Hill Developments Ltd ("HHDL")
received formal notification from the UK Department of Energy and Climate
Change ("DECC") on 17 July 2014 that:

* The Secretary of State has granted the transfer and apportionment of rights
of 65% of Licence PEDL 137 from Magellan Petroleum (UK) Limited to HHDL;
and

* The Secretary of State has granted approval of appointment of HHDL as
Exploration Operator of Licence PEDL 137.

These approvals and consents granted by the DECC are valid until 17 October
2014, to enable HHDL to meet its obligation under the agreements in place
between HHDL and Magellan Petroleum (UK) Limited to drill the Horse Hill-1 well
on Licence PEDL 137.

The Horse Hill-1 well is proposed to have a total depth of 8,512 feet and is
targeting a number of conventional stacked oil and gas targets.

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 the Horse Hill Oil Field in the Weald Basin.

Donald Strang, the Company's Chairman, commented:

"The site construction works are progressing to plan and we look forward to
spudding the Horse Hill-1 well."

Enquiries:

Doriemus plc +44 (0) 20 7440 0640
Donald Strang/Hamish Harris

gibby - 22 Jul 2014 09:40 - 45 of 76

fantastic buy in level atm .155 - wont be that cheap for long
gla

gibby - 22 Jul 2014 09:50 - 46 of 76

lunchtime bargain hunters will be hoovering these up soon if any left - already recovering :-)

gibby - 24 Jul 2014 21:27 - 47 of 76

dor nearly time to turn blue again building up to next news which is close
gla

gibby - 28 Jul 2014 14:41 - 48 of 76

topped up today- currently only .152 buy
yeeeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

gibby - 16 Aug 2014 16:08 - 49 of 76

get used to blue here work progressing http://postimg.org/image/j6i9ok1qd/

gibby - 20 Aug 2014 11:38 - 50 of 76

moving ;

kimoldfield - 20 Aug 2014 17:03 - 51 of 76

Oops! A wheel fell off! :o)

gibby - 03 Sep 2014 07:06 - 52 of 76

lol kim - NO SIR! gonna fly today
yeeeeeeeeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa


Wednesday 03 September, 2014


Doriemus PLC

Drilling commences at Horse Hill


3 September 2014

Doriemus plc

("Doriemus" or the "Company")

Drilling Commence at Horse Hill

Doriemus Plc (AIM: DOR) is pleased to announce that drilling operations on the
Horse Hill-1 well have now commenced.

The Horse Hill-1 well is planned to be drilled to a Total Depth ("TD") of 2,646
metres (8,680 feet) and is designed to test for a number of conventional
stacked oil targets in the Jurassic, as well as a deeper conventional gas
target in the Triassic.

The operator, Horse Hill Developments Ltd ("HHDL"), is a special purpose
company with a 65% operating interest in the PEDL 137 license in the Weald
Basin to the north of Gatwick Airport in Surrey. Doriemus has binding
agreements in place to own a direct 10% interest in HHDL.

The participants in the Horse Hill Prospect are HHDL (65%) and Magellan
Petroleum Corporation (35%).

Donald Strang, the Company's Chairman, commented:

"This is an exciting time for Doriemus. We are very pleased that drilling
operations are now underway on this exciting prospect. The next few weeks will
be a busy and interesting phase for this investment."

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


About Horse Hill:

The 99.29 km2 (24,525 acre) Horse Hill Petroleum Exploration and Development
Licence No. 137 (PEDL 137) ("Horse Hill") is located in Surrey, a few miles
from Gatwick Airport

The Horse Hill Prospect OOIP and OGIP and prospective resources, as previously
announced by the Company, are summarised in Table 1.

Table 1: Horse Hill Prospect estimated OOIP, OGIP and Prospective Resources.

Target Reservoir OOIP OOIP Prospective
Resources
Oil Upside Potential Mean (MMSTB)
(MMSTB) Mean (MMSTB )

Upper Portland 116 57 17
Sandstone

Lower Portland 284 147 44
Sandstone

Corallian Sandstone 67 33 10

Greater Oolite 204 104 16
Limestone

Total Oil 671 341 87

Target Reservoir OGIP OGIP Prospective
Resources
Gas Upside Potential Mean (Bcf)
(Bcf) Mean (Bcf)

Triassic Sandstone 456 234 164

Glossary:

MMSTB million stock barrels

Bcf billion cubic feet

OOIP Original Oil in Place

OGIP Original Gas in Place

Prospective Resource Prospective resources are estimated volumes associated
with undiscovered accumulations. These represent quantities of petroleum which
are estimated, as of a given date, to be potentially recoverable from oil and
gas deposits identified on the basis of indirect evidence but which have not
yet been drilled. This class represents a higher risk than contingent resources
since the risk of discovery is also added. For prospective resources to become
classified as contingent resources, hydrocarbons must be discovered, the
accumulations must be further evaluated and an estimate of quantities that
would be recoverable under appropriate development projects prepared.

gibby - 11 Sep 2014 08:51 - 53 of 76

moving

yeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

gibby - 24 Sep 2014 18:21 - 54 of 76

NR promising news next week and advising that the initial 30ft per hour drilling speed will accelerate as we go a bit deeper.

Even at 30ft per hour they will go through the first oil shows within 24 hours, which should either be at circa 200 ft as there are two local wells producing oil from that depth or a few hundred feet deeper based on Esso's old log data.

-------------

SP performance will be interesting over the coming week, as it will either incrementally rise day on day, or ping pong around for a few days going nowhere, before spiking just before news. Either way, early news may leak and/or rumours may fuel sp movements, so it should be fun if you are holding or ulcer inducing if you try and trade it.

The perceived wisdom of the masses on the AIM is to sell on news, but aside from the masses being persistently wrong on their AIM investment strategy, in this instance we have 4 know stacked oil targets plus a few unknown oil targets. Esso had oil shows in 7 different systems, so there are at least 3 unannounced oil systems that we will be looking at for certain on the way down, and then of course there's the gas at the bottom. DL has tweeted that if they find gas, then they will just keep drilling to 10,000 ft, which makes sense, so we could end up with more than one gas reservoir.

Trying to predict this drill and the timing of what it funds and when news will be announced is next to impossible, given the unknown additional targets, so it's best to ignore all pi produce timetables / pi assertions / etc, and just listen to what the directors of the consortium are telling us, and await results.

Yes, some pi's will want to top slice / profit take / de-risk during the drill and will be clamouring for reassurance of timescales and sp predictions, but that's just noise, so filter it out, and just stick with your strategy, whatever it may be.

gibby - 29 Sep 2014 07:51 - 55 of 76

a view:

br media on solo Neil Ritson said as of this morning ( friday ) drill at 700ft and drill speed increased from 30ft an hour to 35ft hour. Upper Portland first target was 1750ft-1800ft, leaving 1100ft to go at 35ft an hour ( non stop as Ritson said ) means 31 hours from friday am = roughly 4pm saturday target reached. To be cased and cemented at this point. Likelihood of oil shows and oil in upper Portland very high. RNS 7am Monday very likely :)))

gibby - 29 Sep 2014 12:14 - 56 of 76

strong half yearly rns just out - should be noted NO DEBT NO DILUTION and strong cash position:

The Company has a strong balance sheet with no debt and current assets
including cash as at 30 June 2014 amounting to £1,315,000 and eagerly awaits
results from the drilling of the HorseHill-1 well in the Weald Basin just north
of Gatwick Airport.

gibby - 06 Oct 2014 07:27 - 57 of 76

FANTASTIC!

6th October 2014 : Doriemus confirms oil shows at Horse Hill-1
StockMarketWire.com

gibby - 07 Oct 2014 07:56 - 58 of 76

should be blue after dl interview this morning

gibby - 17 Oct 2014 10:39 - 59 of 76

wire news next week - cheap as chips right now imo

gibby - 20 Oct 2014 07:29 - 60 of 76

i would not want to be out of dor for the foreseeable!
http://www.telegraph.co.uk/finance/11171067/HORSE-HILL-SUNDAY-STORY-HEADLINE-TO-COME.html

gibby - 21 Oct 2014 07:17 - 61 of 76

http://seekingalpha.com/article/2519385-magellan-petroleum-should-double-as-asset-values-get-unlocked

gibby - 22 Oct 2014 00:21 - 62 of 76

http://www.telegraph.co.uk/finance/11171067/Oil-find-expected-in-Britains-Dallas.html

gibby - 23 Oct 2014 16:04 - 63 of 76

LEAK - MOVING!

gibby - 23 Oct 2014 16:40 - 64 of 76

very strong blue tomorrow
gla

deltazero - 24 Oct 2014 07:11 - 65 of 76

rns - take off time.........................

Portland Oil Discovery, Horse Hill-1, Weald Basin
RNS Number : 1802V
Alba Mineral Resources PLC
24 October 2014


For Immediate Release, 7 am

24 October 2014



Alba Mineral Resources PLC

("Alba" or the "Company")



Portland Oil Discovery, Horse Hill-1, Weald Basin UK





Alba Mineral Resources PLC (AIM: ALBA) today announces that, following preliminary evaluation of the electric logs, the Horse Hill-1 well has discovered an oil accumulation in the conventional Upper Jurassic Portland Sandstone at a top reservoir depth of 1,791 feet TVDss.



A preliminary most likely estimate of 3.1 million barrels ("mmbbls") of gross in place hydrocarbon volume has been calculated within the upper Portland, with a further gross unrisked in place prospective hydrocarbon volume of 16.8 mmbbls of oil in a separate lower sand in the Portland interval located in an untested fault block to the south. As previously announced, the well is being deepened to the Triassic where an additional target, believed to have potential for gas, is expected to be reached in the next two weeks.



The Portland Sandstone was previously reported on 16 October 2014 to have oil shows in cuttings and elevated gas readings whilst drilling and these indications have been confirmed by independent petrophysical analysis of the electric logs acquired in the well during the last week. Further analysis is continuing to establish the recoverable volume of oil that has been discovered.



Michael Nott, Alba's CEO, commented:



"We are delighted with the results so far from this well. The presence of a larger, unappraised, Portland feature creates considerable further upside. We are now looking forward to drilling the Triassic, which is a new and untested exploration target in the area and which, if successful, may contain appreciable volumes of gas."



The Horse Hill-1 well is located on the northern side of the Weald Basin near Gatwick Airport. Alba owns a 5% interest in Horse Hill Developments Limited ("HHDL"), a special purpose company. HHDL owns a 65% participating interest and is the operator of onshore licences PEDL 137 and the adjacent licence PEDL 246 in the Weald Basin. The participants in the Horse Hill-1 well are HHDL with a 65% working interest and Magellan Petroleum Corporation with a 35% interest. Alba's net interest in any discovery is 3.25%.



Additional analysis:



The upper Portland Sandstone reservoir, which produces at the nearby Brockham oil field, was also intersected by the Collendean Farm-1 exploration approximately 790 metres north of the Horse Hill-1 well. Using the solely available 2D seismic data and the well results, the operator has mapped an area of closure of approximately 3.8 square kilometres where the Portland Sandstone is above the observed oil down to a depth of 1,901 feet TVDss. The presence of two wells within the same mapped structural closure significantly increases the confidence in a commercial discovery and there is every indication that the Portland reservoir can be developed as a commercial oil field.



The gross oil bearing upper Portland Sandstone interval in Horse Hill-1 measures 102 feet, has an average porosity of over 16% and average oil saturation is estimated as 36%. Based on regional and local trends, confirmed by wells at Brockham, these reservoir parameters indicate a high likelihood of production at commercial rates. The equivalent interval in the Collendean Farm-1 well, drilled by Esso in 1964, shows similar reservoir characteristics over a 97 foot gross interval. The gross oil column contained within the Horse Hill-Collendean Farm structure is in excess of 140 feet.



The lower Portland Sandstone reservoir, which is seen to be water wet in Horse Hill-1 and Collendean Farm-1, lies above the oil down to an untested fault block to the south of the Horse Hill-1 well and is interpreted to contain a prospective most likely in place oil gross volume of 16.8 mmbbls.



The Corallian Sandstone and Great Oolite targets in the Horse Hill-1 well are not seen on electric logging to contain moveable hydrocarbons, however, further evaluation of several thick Kimmeridgian-age limestones, which had hydrocarbon shows and elevated mud gas readings whilst drilling, may provide additional oil potential within the well.



Low, medium and high estimates of Portland oil in place are summarised in Table 1.



Table 1: Estimated gross in place discovered and undiscovered oil volumes



mmbbls, in-place-oil


Low (P90)


Medium (P50)


High (P10)

Discovered


1.5


3.1


4.8

Undiscovered


7.8


16.8


29.7



The gross in place hydrocarbon volumes have been prepared by Stephen Sanderson acting as the competent person on behalf of HHDL.



Volumes have been prepared using the methodologies and standards published by the Society of Petroleum Engineers.



The gross in place hydrocarbon volumes presented should not be considered as either contingent resources or reserves.



Competent Person's Statement:



The technical information contained in this announcement has, for the purposes of the AIM Guidance Note for Mining, Oil and Gas companies, been reviewed and approved by Jonathan Tidswell-Pretorius, Executive Director at HHDL and Chairman of Angus Energy Ltd, a UK registered onshore operator who has 15 years of relevant experience in the oil and gas industry. Mr. Tidswell-Pretorius is a member of the Society of Petroleum Engineers and United Kingdom Onshore Oil and Gas (UKOOG) industry bodies.



Glossary:



2D seismic


seismic data collected using the two-dimensional common depth point method

contingent resources


those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations, but the applied project(s) are not yet considered mature enough for commercial development due to one or more contingencies. Contingent Resources may include, for example, projects for which there are currently no viable markets, or where commercial recovery is dependent on technology under development, or where evaluation of the accumulation is insufficient to clearly assess commerciality

discovered/discovery


a discovery is a petroleum accumulation for which one or several exploratory wells have established through testing, sampling and/or logging the existence of a significant quantity of potentially moveable hydrocarbons

electric logs


tools used within the wellbore to measure the rock and fluid properties of surrounding rock formations

mmbbls


million barrels

oil down to


the deepest level where oil saturation is measured at the base of a porous reservoir where it directly overlies rock of very low porosity and permeability where no reliable oil water contact can be established

oil in place


the quantity of oil or petroleum that is estimated to exist originally in naturally occurring accumulations before any extraction or production

oil saturation


the percentage of available pore space within the reservoir containing oil

P10


a 10% probability that a stated volume will be equalled or exceeded

P50


a 50% probability that a stated volume will be equalled or exceeded

P90


a 90% probability that a stated volume will be equalled or exceeded

porosity


the percentage of void space in a rock formation, where the void may contain, for example, water or petroleum

reserves


those quantities of petroleum anticipated to be commercially recoverable by application of development projects to known accumulations at a given date forward under defined conditions

TVDss


true vertical depth below a subsea datum

undiscovered


those quantities of petroleum which are estimated, as of a given date, to be contained within accumulations that have not been tested by drilling

unluckyboy - 24 Oct 2014 07:46 - 66 of 76

Let the games begin. Boooooooom

deltazero - 27 Oct 2014 23:44 - 67 of 76

http://guerillainvesting.co.uk/2014/10/27/the-horsehill-race-has-just-started/

deltazero - 31 Oct 2014 11:21 - 68 of 76

brokermandaniel
October 31, 2014 - 9:26 am
Heading to London. Horse Hill update. Apparently the whisper is that they've started final logging operationB

required field - 31 Oct 2014 12:45 - 69 of 76

This is one I can't understand what the fuss is about.....in % terms....thay have diddly-squat....

deltazero - 26 Nov 2014 18:40 - 70 of 76

http://www.spreadbetmagazine.com/blog/new-video-zak-mir-with-david-lenigas-on-tiptv-horse-hill-upd.html/

mitzy - 30 Dec 2014 10:34 - 71 of 76

Going bust.

Adacol - 30 Dec 2014 10:49 - 72 of 76

where did you get that info?

Adacol - 30 Dec 2014 11:04 - 73 of 76

Are you talking bollocks again?

Adacol - 30 Dec 2014 13:38 - 74 of 76

nice top up at 0.06 this morning! where is mitzy?

mitzy - 30 Dec 2014 13:55 - 75 of 76

I'm still alive thanks.

Adacol - 09 Apr 2015 07:52 - 76 of 76

mitzy - 30 Dec 2014 10:34 - 71 of 75

Going bust.

prick
Register now or login to post to this thread.