Investors backing Britain’s onshore oil sector will find out more about the potential of the Weald basin in the next “week or three”, so says David Lenigas.
He is chairman of Doriemus PLC, has been involved in a number of the investors in the Horse Hill (aka Gatwick Gusher) discovery and is an outspoken proponent of Britain’s onshore oil potential.
Lenigas, in an interview, highlighted that the recently reworked Brockham well neighbouring Horse Hill had been a success.
The Angus Energy Plc (LON:ANGS) operated well, 10% owned by Doriemus, confirmed that Kimmeridge and other formations appear to be the same in structure to the oil-bearing sections of the Horse Hill-1 well.
Analysis in currently underway, and according to Lenigas there are reasons to be optimistic.
Lenigas said: “I’m guessing, just like the punters are guessing, what will Brockham flow?
“All I can tell you right now, without making anybody an insider, is we are very excited about the logs. What we’re seeing is very similar characteristics to what we saw at Horse Hill.
“The proof in the pudding will be in the eating, when we do the flow tests, which is not too far away.”
“And I think that then opens up the whole Weald basin for other players to say look there is substantial amounts of oil in the Kimmeridge limestones, and it is shallow and it doesn’t require fracking.”
Running over the upcoming schedule he added: “Over the course of the next week or three we’ll be releasing the results of the log work, the maturity analysis.
“The whole concept is [to see whether] the Weald limestones in the Kimmeridge naturally fractured like it was at Horse Hill, and then obviously we’re going to move into production testing.”
“And the beautiful thing about the Brockham field is that its already a producing licence … Brockham has been producing happily in that part of the south of England, just south of the M25, for 40 years. So, the exciting thing about Brockham is when we start flowing the oil we can put it straight into the industry.”