RE: Sp29 Sep 2017 22:40
Don't know if anyone noticed this,I didn't so here you are
�We are pleased to welcome our new Australian directors Greg Lee and Glenn Whiddon to the board and our new Australian shareholders to Doriemus. Doriemus is now dual listed on the ASX, a world recognised senior stock exchange, and on London�s NEX Exchange.�
�The extra funding provided by this IPO, adds significant cash to the Company�s balance sheet and we now look forward to accelerating the growth of the Company through the completion of the drilling programmes at both the fully permitted Lidsey and Brockham oil fields in the new Weald Basin oil play south of London. The completion of the Lidsey-X2 production well over the coming weeks, in which Doriemus owns 30% of this well�s production, will hopefully see revenues flowing to the Company in the short term. In addition, we are very excited about the oil flow potential of the Brockham oil field near Gatwick Airport, which is now primed and ready for oil production once the permissions are received from the UK Oil and Gas Authority to complete the well as a producer. Doriemus is the only ASX listed company that has direct production and exploration exposure to the Weald Basin in the UK and we have a long-term strategy in place to grow our exposure to this significant new conventional oil province in the UK.�
Background:
Since the current management took board control of the company in 2013, Doriemus has acquired a portfolio of oil and gas assets located primarily in the UK with a view to acquire additional oil and gas assets consistent with the Company�s strategy in the future. Doriemus� key assets include its direct interests in the Lidsey (PL 241) and Brockham (PL 235) oil fields which are the subject of current drilling programmes aimed at producing at levels to generate income.
Doriemus holds a direct 10% interest Brockham, operated by a subsidiary of Angus Energy Plc, Angus Energy Weald Basin No. 3 Limited, (�Angus Energy�) and a direct 20% interest in the onshore Lidsey Oil Field, also operated by Angus Energy.
The Company is not aware of any legal, regulatory, statutory or contractual impediments to the Company continuing to carry out exploration and producing activities at UK onshore licences PL 235 or PL 241.
Appointment of new Directors:
In conjunction with the successful listing on the ASX the Company is pleased to announce the appointments of Gregory Lee as Technical Executive Director and Glenn Whiddon as Non-Executive Director.
Mr Gregory Jonathan Lee - Technical Director
Mr. Lee is a Petroleum Engineer who has over 30 years of diversified oil and gas experience in both technical and managerial positions. The main focus of his responsibilities has been on acquisitions and divestments, project management and supervision, oil and gas field development and operation, production technology and reservoir enhancement, field