INITIAL DAILY PRODUCTION OF 240 BOE ON GULF LEE HAGER FEE #37
Dome Energy AB. (Ticker: DOME) herein after “Dome” and/or “the Company”) is pleased to announce its first production results from the recently drilled Gulf Lee Hager Fee #37 well (GLHF #37). The well is completed in the Margie Howe sand at approximately 6,000 feet. Upon perforating the well showed a large gas production with associated oil and condensate, under high pressure of approximately 1,800 PSI at surface. The well is flowing to surface without any lift equipment.
During the last 48 hours the well flowed on average rate of 90 barrels of oil and condensate a day, and approximately 900 MCF (150 BOE) a day, for a total of 240 barrels of oil equivalent per day. Production has been recorded for 48 hours, with increasing production of both oil and gas. The Orange field has excellent infrastructure and the Company expects to have gas production facilities in place shortly. The completion rig has now moved over to the Gulf Lee Hager Fee #38 (GLHF #38) location to complete this well at the more shallow Miocene formation.
Paul Morch, CEO commented; “The initial production is much higher than we expected, mostly because of the high gas production. We have concluded that these volumes are of high economical value, and infrastructure will be put back in place for gas production. Given these volumes and economical values, we have decided to continue our drilling program on additional pads in Orange. These pads will be constructed further south on our Hager lease, and we expect the second stage of our drilling program to include 4-6 drilling locations.”
For further information please contact:
Susanna Helgesen, CFO
Phone: +46 708 27 86 36
US phone: +1 281 558 8585
E-mail: sh@domeenergy.com
About Dome Energy
Dome Energy AB. is an independent Oil & Gas Company publicly traded on the Nasdaq OMX First North exchange in Sweden (Ticker: DOME). Remium Nordic AB is the Company’s Certified Adviser. Headquartered in Houston, Texas, the Company’s focus is on the development and production of existing onshore Oil & Gas reserves in the United States. For more information visit www.domeenergy.com.
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