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Placing

1 Nov 2013 07:00

DORIEMUS PLC - Placing

DORIEMUS PLC - Placing

PR Newswire

London, October 31

1 November 2013 Doriemus Plc ("Doriemus" or the "Company") Placing to raise £360,000 Doriemus Plc (AIM: DOR) is pleased to announce that further to the announcementof the farm-in and the joint operating agreements with Angus Energy Weald BasinNo. 3 Limited ("Angus Energy") on the producing onshore Lidsey Oilfield("Lidsey") in West Sussex, the Company has raised £360,000, before expenses, byway of a placing ("the Placing") of 400 million new ordinary shares of 0.01pence each ("Placing Shares") at 0.09 pence per share. The Placing Shares have been unconditionally placed subject only to admissionto trading on AIM ("Admission"). Application has been made for Admission and itis expected that the Placing Shares will be admitted to trading on AIM on 8November 2013. The Placing Shares will represent approximately 10.1 per cent.of the Company's enlarged issued share capital. Donald Strang, the Company's Chairman, commented: "This new funding will pay for the Company's share of the planned work-over andrecompletion on the Lidsey-1 production well over the coming weeks andtechnical work relating to a potential new production well being planned forspudding early next year, the first new conventional oil well on the Oilfieldsince 1988." Total Voting Rights As of today the Company's total issued ordinary share capital is 3,559,999,998ordinary shares of 0.1 pence each. Following Admission of the Placing Shares,the Company's total issued ordinary share capital will comprise of3,959,999,998 ordinary shares of 0.1 pence each. These numbers may be used byshareholders in the Company as the denominator for the calculations by whichthey will determine if they are required to notify their interest in, or achange in their interest in, the share capital of the Company. The Lidsey Oilfield The Lidsey Oilfield is held under United Kingdom Production Licence PL241 whichwas granted on 2 December 1983. Oil was discovered on Lidsey in 1987 by CarlessExploration when an exploration well successfully flowed oil. Lidsey has onevertical producing well in the Jurassic, Great Oolite reservoir which hasproduced an average of 25 bopd of 38 API oil over the past 12 months. TheLidsey surface facilities are fully permitted and operational with onsite oilstorage of 2,000 barrels. For further information please contact: Doriemus plcDonald Strang/Hamish Harris +44 (0) 207 440 0640 Sanlam Securities UK Limited (Nominated Adviser and Broker)Simon Clements/Virginia Bull +44 (0) 207 628 2200
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