Doriemus Plc has a 5% participating interest in a 200km2 onshore Isle of Wight Petroleum Exploration and Development Licence (PEDL 331). The Operator is UK Oil & Gas Investments Plc.
On 23 January 2019 the Operator advised of its plans for the Isle of Wight PEDL 331’s Arreton main oil discovery and Arreton South Exploration.
The Operator has advised that:
- during the Winter in the United Kingdom (i.e. December 2019 and January / February 2020) it aims to convert the the current estimate of contingent resources into proven and probable reserves via the drilling and long-term testing of an Arreton-3 (“A-3”) appraisal well within the Arreton Main oil discovery; and
- an application to drill, core and test an A-3 pilot hole and horizontal wellbore is planned to be submitted to the Isle of Wight Council in the first quarter of 2019. Shortly afterwards, the Operator also intends to submit a further planning application to drill, core and test the geological look-alike Arreton South prospect with operations planned to follow A-3 testing.