Australia's Doriemus rises on oilfield stake buy

Azzuro Resources

05/03/2019 24:15

** Shares of Doriemus Plc  DOR.AX  rise as much as 12.5 pct
to A$0.09, their highest since Feb 22
    ** Oil and gas company says unit signs farmout agreement
with a unit of Rey Resources Ltd  REY.AX  for ownership of 50
pct interest in the L15 permit, which includes the West Kora
oilfield, located in Western Australia  urn:newsml:reuters.com:*:nASX1TCh2V
    ** Co adds L15 has an estimated 380,000 barrels of proved
plus probable (2P) reserves
    ** Doriemus says can secure interest in L15 by funding an
A$1 mln ($709,000) field development plan over the following
year on the L15 permit
    ** Stock posts its biggest intraday pct gain since Jan 7 
    ** Over 34,500 shares change hands, compared with the 30-day
average volume of near 27,900 shares
    ** Stock has risen 23.1 pct this year, as of last close

($1 = 1.4104 Australian dollars)

 ((ShreyaMariam.Job@thomsonreuters.com; +918067496338; Reuters
Messaging: ShreyaMariam.Job.thomsonreuters.com@reuters.net))