Dome Energy gives drilling update on successful flow testing of Hager #39 in Orange field

Dome Energy AB. (https://www.domeenergy.com) (herein after “Dome” and/or “the Company”) informs that the Company has flow tested its recently drilled Hager #39 well in Orange field, Texas. The well was perforated in the deepest two zones, and showed an initial hourly rate of 17 barrels before it was choked back. The well has produced ~50 BOPD over the last ten days with a 150-200 PSI pressure. We believe this is the optimal pressure for the longevity of the well.

Paul Morch, CEO: “We are happy to see that the first zones we perforated shows production. We have another two zones to test once we decide to abandon the current producing zone. We are also happy with the current production level, as we expected 30-70 BOPD from this well. We could increase production from this well, but we aim for a long life of the current zone, which will also add to the amount of recoverable barrels from the well. After three months, we plan to get a third party volumetric calculations for the reservoir and for the actual value. The production over the next period will also determine the drilling of our next well. The Hager #39 well was drilled over our estimated budget and we will subsequently change drilling operator. This will delay drilling, but also give us the opportunity to reposition our next well for optimal results.”

For further information, please contact:
Paul Morch
Phone: +1 713 385 4104
E-mail: [email protected]om 

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 April 28, 2017, 08.30 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 (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.