For Immediate Release
3 March
2017
DORIEMUS PLC
("Doriemus" or the
"Company")
UK onshore
Brockham Oil Field – Update
More Conventional Oil Identified
in Kimmeridge and Production Plans
Doriemus PLC is pleased to announce that the operator of the
Brockham Oil Field, Angus Energy Plc (“Angus” or the “Operator”),
has provided a very significant update today with respect the new
oil production potential of the Brockham Oil Field just north
of near Gatwick Airport and the near term plans to bring the
Kimmeridge oil in to production during spring/summer this year at
Brockham, which is a certified onshore UK production field.
The Operator has stated it has confidence that the Brockham X4Z
sidetrack well will be similar to Horse Hill and perhaps given that
the reservoir is potentially much thicker in zones, the results
could be even better than those seen at the Horse Hill.
In addition, the extensive log and geochemical analysis of the
recently drilled Brockham X4Z sidetrack confirms:
- Brockham has very similar thickness of reservoir and properties
to those reported from the very successful Horse Hill-1 well,
located 8km to the south.
- Logging confirms abundant natural fractures are evident in not
only in the 2 thick Kimmeridge limestones themselves, but also over
extensive intervals of interbedded shales and limestones within the
385 metres gross thickness of the Kimmeridge drilled in this
sidetrack and around 200 metres of Kimmeridge reservoir has this
new oil potential.
The full Angus Energy Plc Brockham update news release is
included below.
David Lenigas, Doriemus’s Chairman,
commented;
“This is an outstanding update! Personally, as someone driving
the controversial Horse Hill – 1 well, this Brockham well now shows
excellent potential to add the UK’s oil inventory and energy
security as Britain heads towards
Brexit and I look forward to being part of bringing this exciting
well in to production shortly.”
Interest in Brockham Oil Field (PL
235):
Doriemus owns a 10% direct interest in the Brockham Oil Field
which is held under UK Production Licence PL 235. Doriemus also
holds a 10 per cent interest in Horse Hill Developments Limited,
the company which has a 65 per cent participating interest and
operatorship of the Horse Hill oil and gas project (licences PEDL
137 and PEDL 246) in the UK Weald Basin.
The directors of the Company accept responsibility for the
contents of this announcement.
For further information please
contact:
www.doriemus.com
David Lenigas (Executive Chairman)
Hamish Harris (Non-Executive Director) |
+44 (0) 20 74400640 |
Peterhouse Corporate Finance
Limited
Guy Miller
Fungai Ndore |
+44 (0) 20 7469 0930 |
Square 1 Consulting (Public
Relations)
David Bick |
+44 (0) 20 7929 5599 |
3 March 2017
Angus Energy
plc
("Angus Energy", “Angus” or the
“Company”)
Brockham oil field
– BR-X4Z Drilling results confirming potential to place Kimmeridge
into production at the Brockham oil field (PL 235)
Angus Energy plc (the “Group”) is pleased to announce that,
following the extensive analysis of the BR-X4Z sidetrack well, the
Company's intention is to bring the Kimmeridge into production at
its existing Brockham production facility as soon as the necessary
OGA approval is in place.
The Brockham X4Z well, drilled to a total depth of 1,391m, was
planned to evaluate the Portland, Corallian and Kimmeridge
formations at Brockham including an evaluation of the Kimmeridge
reservoir that had been demonstrated by the Horse Hill discovery 8
km to the South. The operator of the well at Horse Hill has
announced cumulative production rates of over 1,500 barrels per day
in short term testing. The Brockham X4Z well was intended to
establish whether the evidence of a potential reservoir
reported at Horse Hill extended further North into the
Brockham Licence. The well was therefore intended to answer three
main questions. Is the reservoir section in Brockham similar in
thickness and reservoir properties to what had been reported at
Horse Hill? Is there evidence of naturally occurring
fractures to enable production of oil using conventional means? Is
the content of oil in the Kimmeridge similar to Horse Hill where
oil was tested at substantial rates?
Angus Energy is pleased to announce that the preliminary results
from Brockham X4Z confirm very similar thickness of reservoir and
properties to those reported at Horse Hill. The gross thickness of
Kimmeridge in Brockham X4Z is some 385m thick. The two
limestone intervals (each around 30m) tested in Horse Hill are also
seen in the Brockham well. The reservoir properties appear to be
very similar to Horse Hill, based on electrical logging
evidence.
Angus took the search for natural fractures a stage further by
using the Weatherford Ultra Wave Acoustic borehole imaging tool.
This is its first use in Europe.
Technical papers are to be presented on this at DEVEX
shortly. The tool made it possible to see fractures in the
borehole directly, unlike the need to infer fractures from logs.
The information confirmed not only evidence of natural fractures in
the two main limestones intervals previously tested at Horse Hill,
but also confirmed abundant natural fractures in sections of
interbedded shales and limestones between and below the two main
limestones. Around 200m of the reservoir has this potential.
Angus took many samples during the drilling to use for
geochemical analysis. The initial results of this work show total
organic content through the Kimmerdige section between 2-12%,
exceeding Horse Hill in places. Furthermore, evidence shows that
the highest organic content corresponds to the limestones and, in
particular, the intervals in between the limestones which have
natural fracturing. Whilst organic content is not the same as oil
content, it is indicative of those sections where oil content will
be highest. This supports the potential for some 200m of reservoir
of interest. Actual oil content depends on the extent to which
burial has resulted in pressures and temperatures sufficient to
generate oil. Initial Tmax and Hydrogen Index readings correspond
with Horse Hill data. Since oil was produced briefly at Horse Hill
and as it is most likely that the oil in the Portland Sandstone in
Brockham is sourced from the Kimmeridge, the evidence backs a
similar oil content to Horse Hill.
Therefore, based on the evidence so far, Angus has confidence
that the well will be similar to Horse Hill and perhaps given that
the reservoir is potentially much thicker in zones not previously
tested the results could be even better. These results achieve
everything short of production to prove the potential from this
zone.
In line with Angus’s measured approach to field development,
operations are in hand to install new production facilities for the
well and to prepare for the production as soon as necessary OGA
approval is in place. Targeted completion for production is in
spring/summer 2017. Our professional team will shortly be meeting
Surrey County Council to discuss the position in relation to the
sidetrack and also to agree what further planning permissions are
necessary in order to regularise the existing site cabins, fencing
and associated structures.
In addition, additional oil shows were observed in the Portland
and Corallian formations. Currently, the Brockham number 2 well is
a temporarily suspended producer from the Portland reservoir and
the Company is confident of additional production from the Portland
from Brockham X4Z in due course. The Corallian formation with good
indications of both gas and oil is still being evaluated.
Fuller technical analysis of the results is contained in a
presentation prepared by Angus, a copy of which is available from
the Company’s website: www.angusenergy.co.uk
Qualified Person's Statement:
Chris de
Goey, a Non-Executive Director of the Company, who has over
20 years of relevant experience in the oil and gas industry, has
approved the information contained in this announcement. Mr de Goey
is a member of the Petroleum Exploration Society of Great Britain and the Society of Petroleum
Engineers.
END.
Enquiries:
Angus Energy Plc |
|
Jonathan Tidswell-Pretorius / Paul
Vonk |
Tel: +44 (0) 208 899 6380 |
|
|
Beaumont Cornish (NOMAD) |
|
James Biddle/ Roland Cornish |
Tel: +44 (0) 207 628 3396 |
www.beaumontcornish.com |
|
|
|
Optiva Securities Limited
(BROKER) |
|
Jeremy King/ Ed McDermott |
Tel: +44 (0) 203 137 1902 |
About Angus Energy plc.
Angus Energy plc. is an AIM quoted independent onshore oil and
gas development company focused on leveraging its expertise to
advance its portfolio of UK assets as well as acquire, manage and
monetise select projects. Angus Energy owns and operates
conventional oil production fields in Brockham (PL 235) and Lidsey
(PL 241).
Technical Glossary
Burial: As layers are piled one upon another, the sediments
beneath are buried
DEVEX: an annual UK based technical conference focussed on
reservoir discovery, evaluation, development and recovery in the UK
to be held in May 2017. The event is
jointly organised by the Petroleum Exploration Society of
Great Britain (PESGB), Society of
Petroleum Engineers (SPE) and Aberdeen Formation Evaluation Society
(AFES).;
Hydrogen Index: Gross trends of hydrogen indices (HIs) can be
used as a maturation indicator. The hydrogen index is calculated
from Rock Eval data using the following formula: ‘HI = S2/TOCx100’
where S2 is the amount of hydrocarbons generated through thermal
cracking of nonvolatile organic matter in mg/g of rock and TOC is
total organic carbon in %.
OGA: the Oil & Gas Authority, an independent government
company established by the UK Government in its current form on
1 October 2016
Tmax: The temperature at which the maximum rate of hydrocarbon
generation occurs in a kerogen sample during pyrolysis analysis
Weatherford Ultra Wave Acoustic borehole imaging tool: Acquires
high resolution images in Oil Based Mud
Environments. Its two measurements are the travel time
and amplitude of the ultrasonic wave emitted from the ultrasonic
transducer and reflected back from the formation to the tool.
It provides calliper measurement and the detection
of formation/geological features (beddings and fractures) and
borehole breakouts from the change in signal amplitude
END