The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksDoriemus Share News (DOR)

  • There is currently no data for DOR

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Horse Hill Participants Plug Well For Pressure Test As Flows Continue

Wed, 02nd Mar 2016 08:59

LONDON (Alliance News) - The companies behind the Horse Hill oil project near Gatwick Airport on Wednesday said the well drilled on the site resumed flowing oil earlier this week but has been plugged temporarily for a pressure test.

The well flowed for seven and a half hours on Monday at an average of 838 barrels per day and was shut-in on Tuesday for a 12-hour pressure build-up test.

"The well continues to perform above management's expectations. We look forward to testing the overlying Portland shortly," said Stephen Sanderson, the chairman of UK Oil & Gas Investments PLC, which owns a 30% stake in Horse Hill Developments Ltd, the joint venture handling drilling at the project.

Horse Hill Developments owns a 65% stake in the project, with the rest held by Magellan Petroleum Corp.

Alba Mineral Resources PLC holds a 15% interest whilst Doriemus PLC, Stellar Resources PLC and Solo Oil PLC each hold 10% stakes in Horse Hill Developments. Regency Mines PLC holds a 5% stake and Evocutis PLC holds a smaller a 2% stake.

UK Oil & Gas Investments shares were down 0.9% on Wednesday morning. Alba shares were down 0.4%, Stellar Resources shares were flat, and Solo Oil shares were down 2.2%.

Regency Mines shares were down 5.6%, while Evocutis shares were down 5.5%.

Doriemus shares are currently suspended, and the company will soon de-list from AIM and move its shares to the ISDX market.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

Copyright 2016 Alliance News Limited. All Rights Reserved.

More News
9 Apr 2015 10:46

WINNERS & LOSERS: Miners Drag FTSE 100 On Credit Suisse Downgrades

Read more
9 Apr 2015 07:46

AIM explorers hail 'significant' oil discovery in Horse Hill, Southern England

Small cap oil exploration firm UK Oil & Gas Investments (UKOG) has made a 'significant' oil discovery in the South of England, said to be the largest onshore find in the country for 30 years. Other companies with interests in the Horse Hill licences, which cover 55 square miles of the Weald Basin, i

Read more
9 Apr 2015 07:11

Horse Hill Companies Rise On Reports Of Significant Oil Find In Surrey

Read more
8 Apr 2015 13:45

Alba Buys 5% Stake In Horse Hill For GBP290,000 From Regency Mines

Read more
18 Mar 2015 08:14

UK Oil & Gas leads peers higher on Horse Hill potential

Shares in a number of AIM oil producers rose on Wednesday after an update on the Horse Hill discovery in the UK Weald Basin showed further potential oil pay. Horse Hill Developments Ltd (HHDL), which is part-owned by several UK-listed producers, said that ongoing well analysis of the Horse Hill-1 we

Read more
18 Mar 2015 07:59

Horse Hill Participants Report Further Potential Oil Pay At Prospect

Read more
13 Mar 2015 09:23

UPDATE: UK Oil & Gas Investments Buys Further Horse Hill Stake (ALLISS)

Read more
12 Mar 2015 13:07

UK MIDDAY BRIEFING: TSB Offer Gives Lloyds Quick Exit Route

Read more
12 Mar 2015 11:53

UK WINNERS & LOSERS: SOCO Shares Plunge As Weak Oil Prices Take Toll

Read more
12 Mar 2015 09:54

Doriemus Raises GBP1.2 Million In Discounted Share Placing (ALLISS)

Read more
30 Jan 2015 09:57

Horse Hill License Area Gets Reservoir Expert To Maximise Potential

Read more
5 Nov 2014 15:47

Solo Oil and partners fail to find gas in UK well

A string of oil companies have announced that part of a well near Gatwick airport in southern England has come up dry, knocking their shares. The companies, including Stellar Resources, Solo Oil, Regency Mines, UK Oil & Gas Investments, Alba Mineral Resources and Doriemus, said exploration of the Tr

Read more
5 Nov 2014 12:26

UK WINNERS & LOSERS: Stock Spirits' Warning Sends Its Shares Crashing

Read more
5 Nov 2014 08:50

Horse Hill Companies Hit After Failing To Make Discovery At Target

Read more
24 Oct 2014 13:49

Stellar Resources, Solo Oil and others strike oil near UK's Gatwick Airport

A string of oil companies have struck oil near Gatwick Airport in southern England. The companies, including Stellar Resources, Solo Oil, Regency Mines, UK Oil & Gas Investments, Alba Mineral Resources and Doriemus, are in a consortium that has found an oil accumulation in the Horse Hill-1 well on t

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.