Block L15 – Farmin:
David Lenigas, Doriemus’ Executive Chairman, commented;
“The board are excited to move from the Term Sheet stage of this Western Australian oil deal to the signing of the formal Farmout Agreement, which comprises an agreed form joint operating agreement. We still have some work to do before we look at bringing this oilfield back in to production. Current plans are to pull the existing down hole equipment, work to isolate unnecessary water inflows, install a higher capacity down hole pump and rebuild existing surface infrastructure. Work on site will be limited until after the wet season, however we plan to push on as soon as possible in our attempt to resume oil production from West Kora.”
“We have also completed the due diligence process on the larger EP487 proposed farmin block, to the south of West Kora L15 block, and the parties aim to provide a further update on the status of that farmin deal shortly.”
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/05032019/doriemus-sign-farmout-agreement-for-kora-west-oilfield/
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