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Doriemus PLC

David Lenigas is excited about Britain’s onshore oil sector

“There is the potential for a major oil resource south of London that is extractable,” said David Lenigas.

onshore oil operation
Lenigas chairman of Doriemus, junior partner in Brockham

David Lenigas is excited and itching to talk about the oil play emerging around Gatwick Airport.

Of course he has a great vantage point. He was formerly a director or had close ties to five of the seven listed companies involved with Horse Hill, a surprise discovery on the fringes of Britain’s second largest airport.

He is also chairman of Doriemus, junior partner in Brockham, 11 miles away from the 1,700 barrel a day Gatwick Gusher.

The operator is AIM-listed Angus Energy, which has just completed a side-track well. It targeted the Portland, which is a known producing horizon, before heading down into the Kimmeridge limestones that were host the significant Horse Hill oil accumulations.

After that it perforated Corallian formation, which isn’t particularly well understood.

Lenigas said he was excited about the potential of Corallian, which he confirmed was host to oil and gas.

The Kimmeridge, meanwhile, looks to have the natural fracturing required for the naturally flowing crude accumulations seen at Horse Hill.

“We won’t know until all the log analysis is back, which will be shortly,” said Lenigas.

“We were originally talking about testing six zones. We might be testing eight or ten now.”

Should Brockham’s geology mirror that seen at Horse Hill then there would be two very good markers as to the potential of the wider Weald Basin as a new, world-class oil play. Cuadrilla’s Balcombe well in Sussex possibly provides a third.

“There is the potential for a major oil resource south of London that is extractable,” said Lenigas.

“The technology today such as octopus drilling means you can cover 20-square kilometres from an area the size of two tennis courts.”

Weald Basin has 'huge implications' for Britain's energy security

David Lenigas talks to Proactive about the 'significant' potential of the Weald Basin, which hosts Horse Hill and Brockham.

''You're talking 120 billion barrel P50 potential .... if can you get 3,5,10, 20% of it out ... that is significant''.

Lenigas adds: ''A lot of wells in the North Sea are now uneconomic ... Britain now imports about 30-50% of its hydrocarbon requirements from the oil side and it needs to find homegrown oil.''

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'The Gatwick Gusher gushed again, a lot quicker than we expected' - David...

The small cap deal maker and ‘Gatwick Gusher’ proponent David Lenigas talks to Andrew Scott about the importance of energy independence amid Brexit, the new testing at Horse Hill, the Weald’s ‘billion barrel potential’, and hints at the possibility of takeover activity in the future as the...

on 19/7/18

2 min read