REMINDER: Our user survey closes on Friday, please submit your responses here

Less Ads, More Data, More Tools Register for FREE
Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO
Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPOView Video
Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant
Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plantView Video

Latest Share Chat

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 Partners Begin Eagerly-Awaited Flow Test

Mon, 08th Feb 2016 08:29

LONDON (Alliance News) - The string of AIM-listed companies involved in the Horse Hill project in southern England on Monday said operations have started at the site to conduct the eagerly-awaited flow test at the Horse Hill-1 well.

The extended flow test will be conducted over three separate intervals in the Horse Hill-1 well after the UK Oil & Gas Authority gave the green light for the test last month, building on a similar approval from the Environment Agency in late November.

Horse Hill Developments Ltd owns a 65% stake in the Horse Hill prospect and the remaining 35% of the prospect is held by Magellan Petroleum Corp.

UK Oil and Gas Investments holds a 30% stake in Horse Hill Developments, whilst Doriemus PLC, Stellar Resources PLC, Solo Oil PLC and Alba Mineral Resources PLC each hold 10% stakes in Horse Hill Developments, with Evocutis PLC holding a 2% stake and the balance is owned by Angus Energy, in which UK Oil & Gas has a 6% stake.

All of the AIM-listed companies involved released separate statements on Monday confirming the flow test operations have commenced, which will take around 30 days.

The flow test is designed to test three separate zones in the well: the oil bearing Upper Portland sandstone and two Kimmeridge limestones that lie beneath the Portland sandstone.

During 2015, there was some controversy over the amount of oil that might be in the well, with the upcoming flowtest set to definitely outline how much oil the project potentially has.

"Collecting flow rate and reservoir engineering data is a key step in establishing commerciality and designing a development programme. We therefore look forward with great interest to reviewing the data with the Horse Hill partners as those results become available," said Neil Ritson, chairman of Solo Oil.

The latest figure provided by the companies suggested there could be up to 10.99 billion barrels of oil in place, but the big question is how much of that oil can actually be extracted. Currently, it is thought only around 3% to 15% of the oil in place could ever be recovered from the well.

The current estimates cover a 55 square mile area over the PEDL137 and PEDL246 Horse Hill licenses. Of the estimate, 8.26 billion barrels is thought to lie in the Kimmeridge Clay formation, 1.71 billion barrels in the Lias formation, and 1.01 billion barrels in the Oxford Clay. The estimates exclude the underlying Jurassic tight oil plays which lingers beneath the Kimmeridge, Lias and Oxford Clay formations.

UK Oil & Gas shares were up 1.9% on Monday morning, having spiked 9% at the open. Solo Oil shares were down 0.9% and Alba Mineral shares were trading up 5.6%, both also reversing initial gains. Shares in Evocutis were down 4.0%. Stellar Resources and Doriemus were untraded early Monday.

By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance

Copyright 2016 Alliance News Limited. All Rights Reserved.

More News
21 Jul 2014 08:56

Horse Hill Developments Gets Key Approvals For Weald Basin Drilling

Read more
21 Jul 2014 07:36

UK MORNING BRIEFING: Tesco Stands Out From Weak FTSE On CEO Change

Read more
18 Jul 2014 15:47

Doriemus To Sell Failing TEP Exchange Holdings Business

Read more
11 Jul 2014 07:58

Alba Mineral Resources And Regency Mines Buy Into Horse Hill

Read more
2 Jul 2014 13:39

Doriemus, UK Oil & Gas Investments Increase Production At Lidsey Field

Read more
27 Jun 2014 10:09

Doriemus Swings To Pretax Loss After Change To Investment Strategy

Read more
16 Jun 2014 17:12

Doriemus To Issue 105 Million New Shares Following Warrant Exercise

LONDON (Alliance News) - Doriemus PLC Monday said it has received a notice of exercise of warrants to subscribe for 105.0 million new shares at an exercise price of 0.04 pence each. In a statement, Doriemus said the new shares are expected to begin trading on Friday. Following their a

Read more
16 Jun 2014 07:38

Horse Hill Companies Rise As Work Starts On First Well Site

LONDON (Alliance News) - Solo Oil PLC, Stellar Resources PLC, Doriemus PLC and UK Oil & Gas Investments PLC all saw their shares rise early Monday after saying that the operators of the Horse Hill oil and gas prospect in the Weald Basin near Gatwick Airport had stared building the site for the Ho

Read more
16 May 2014 11:46

Solo Oil, Stellar Resources, Doriemus And UK Oil & Gas Investments Say Horse Hill-1 On Schedule

LONDON (Alliance News) - Solo Oil PLC, Stellar Resources PLC, Doriemus PLC and UK Oil & Gas Investments PLC Friday announced that the Horse Hill-1 well is on schedule to go into test production during July towards planned completion in August. The four oil and gas exploration and developmen

Read more
2 May 2014 16:48

Doriemus Raises GBP500,000 Through Subscription By New Investor

LONDON (Alliance News) - Doriemus PLC Friday said that it has raised GBP500,000 through the subscription for 500.0 million new shares in the company by a new institutional investor, whom it didn't name. The shares were priced at 0.10 pence per share. It said the new shares represent 9.54% o

Read more
25 Apr 2014 10:33

Doriemus Experiences Delays In Brockham Drilling

LONDON (Alliance News) - Doriemus PLC Friday said the operator of the Brockham Field in the Weald Basin, UK, has been experiencing delays to operations beyond of its control. The oil and gas exploration and production company said the delays affected a drill rig which had been expected to s

Read more
1 Apr 2014 11:11

REPEAT: Doriemus, UK Oil & Gas Investments To Start Drilling Brockham Well

LONDON (Alliance News) - Doriemus PLC and UK Oil & Gas Investments PLC said Tuesday they received final approvals from the UK government to drill a conventional side-track well on the Brockham Field in the Weald Basin. The companies said the drill rig is expected to spud within 10 to 14 day

Read more
1 Apr 2014 11:08

Doriemus, UK Oil & Gas Investments To Start Drilling Brockham Well

LONDON (Alliance News) - Doriemus PLC and UK Oil & Gas Investments PLC said Tuesday they received final approvals from the UK government to drill a conventional side-track well on the Brockham Field in the Weald Basin. The companies said the drill rig is expected to spud within 10 to 14 day

Read more
1 Apr 2014 07:46

UK MORNING BRIEFING: Rathbone Brothers Acquires, Places Shares

LONDON (Alliance News) - UK shares have opened mostly higher Tuesday, following through on a strong close in NY and dovish comments from the US Federal Reserve chair.

Rathbone Brothers has made waves early Tuesday, announcing two major acquisitions and a share placi

Read more
13 Mar 2014 12:14

Doriemus And UK Oil & Gas Investments Note Positive Reserves And Resource Statements

LONDON (Alliance News) - Doriemus PLC and UK Oil & Gas Investments PLC Thursday announced positive results from reserves and resources statements at Lidsey and Brockham in the UK. The oil and gas exploration and development company's said the report, carried out by RPS Energy Consultants Lt

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.