Paul Mørch, CEO: “We are excited to announce our third drilling program in the Illinois Basin. The continued success we have seen on previous wells, makes us comfortable to continue with our development operations in the basin. Drilling start is scheduled on September 10th, with a total of six wells to be drilled through October. If weather allows, we hope to get a total of 12 wells drilled before the end of the year.
We start of drilling well Walgrove 10-2 on our Walgrove lease. We will then move over to start drilling on our recently acquired acreage, Rachels Et al lease. Each well is budgeted at USD 650 000 and requires minimal infrastructure costs as we will utilize existing facilities. We also want to point out that our NRI in some of the planned wells are higher than the previously drilled wells, which means that our revenue and reserve valuations is expected to be higher.”
About Dome Energy
Dome Energy AB. is an independent Oil & Gas Company publicly traded on the Nasdaq First North exchange in Sweden (Ticker: DOME (http://www.nasdaq.com/symbol/els/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.