Doriemos Plc has a participating interest in the Lidsey Oilfield (“Lidsey”) in West Sussex of 20%
- Lidsey currently produces 22 bopd from the Lidsey-1 well, which has been in production since 2008.
- In March 2014, the Company announced that RPS had independently assessed that, as at 31 December 2013, the Lidsey Field contained 9.52 mmbbls (gross) of P50, or best case Oil In-Place. The planned infill well is thus targeted to recover similar or greater volumes to the Lidsey-1 producer.
The Lidsey Oil Field (“Lidsey”) is held under United Kingdom Production Licence PL241 which was granted on 2 December 1983. Oil was discovered on Lidsey in 1987 by Carless Exploration when an exploration well successfully flowed oil. Lidsey has one vertical producing well in the Jurassic, Great Oolite reservoir which has produced an average of 25 bopd of 38 API oil over the past 12 months. The Lidsey surface facilities are fully permitted and operational with onsite oil storage of 2,000 barrels.
The Licence is an ever green production licence, providing the field remains an active oil production status. A rent review on the Licence is expected in 2017.