Dome Energy acquires oil field in Wyoming
Dome Energy AB. (herein after “Dome” and/or “the Company”) today announces that the Company acquires oil field in Wyoming.
Internal calculations estimates;
- Total reserves of 1.4mm barrels, whereof 450,000 barrels are proven
- Future discounted cash flow of $ 17mm at current oil price
- Potential daily field production of more than 600 BOPD
- Potential wells to re-enter for immediate production start
Acquisition cost less than $50,000
Paul Morch, CEO: “We are happy to announce this small acquisition with big economic potential that we have been able to finalize. Our team out of Wyoming first examined this opportunity back in 2012, but was unable to close a deal with the previous owner. The acreage became available since it was no longer HBP “held by production” and we proposed the acreage for public auction. Our local presence and previous analysis allowed us to buy this at a very low price. We will aim to restart production in the coming months, and present a development program shortly after.”
For further information, please contact:
Phone: +1 713 385 4104
This information is the kind of information that Dome Energy AB (publ) is obliged to publicize according to EU Market Abuse Regulations (MAR). The information was publicized, by the above contact person March 23, 2017 14.45 CET.
About Dome Energy
Dome Energy AB. is an independent Oil & Gas Company publicly traded on the Nasdaq First North exchange in Sweden (Ticker: DOME). Mangold Fondkommission AB, phone: +46 8 503 01 550, 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.