Company Information for Midmar Energy Limited

Company Statement

Midmar Energy is an entrepreneurial oil and gas exploration and production company, focused upon maximising existing reserves and developing new reserves through the application of its outstanding technical skills and experience. The Company currently has four UK onshore licences, two of which were awarded in the 13th UK Onshore Licensing Round. Midmar also continues to investigate further opportunities both in the UK and internationally where the Company can apply its outstanding technical and commercial skills and expertise to the acquisition and enhancement of its reserves base.
Midmar continues to pursue opportunities where it can apply its technical and commercial expertise to the enhancement of existing fields and the development of new reserves. The Company is committed to expanding its portfolio of projects both domestically and internationally, onshore and offshore. Midmar is a founding partner in Mesopotamia Petroleum Company which was formed to focus upon upstream opportunities in Iraq.

Operations and Technology

Bournemouth-based Midmar Energy was founded in 1995, starting life with an interest in the Brockham field onshore UK. The Company has, to date, achieved significant growth by acquisition of existing onshore oil fields and the enhancement of the reserve potential and recovery rates for these fields. Midmar now holds 100 per cent of Brockham plus three other onshore UK licences, and is expanding internationally.

Midmar runs a streamlined operation, enabling it to target modest deposits that fall below the radar of larger operators. It uses modern technology to identify untapped reserves potential in existing fields and boost recovery rates. Given low onshore drilling costs and high oil prices, this is a strategy that can make even small discoveries profitable.

The Brockham oilfield, which lies in PL235 the Weald Basin in Surrey, is Midmar’s main asset, producing around 100 barrels per day. Infill drilling is expected to add another 60-70 bpd in 2008. The company also holds 100 per cent of Lidsey in PL241 in West Sussex, which started producing 40 bpd from a single well in early 2008.

In May 2008 Midmar was awarded two new licences in the UK’s 13th onshore licensing round, strengthening its position in the Weald Basin. It now holds 100 per cent of PEDL 230, which lies at the western end of the basin near Andover in Hampshire. The licence is close to, and on-trend with, other producing fields. Midmar plans to reprocess existing seismic data to firm up possible structures for further investigation.

Midmar was also awarded a 70 per cent interest in PEDL 248 in Kent. The licence is home to an oil discovery made back in the 1930s and thought to hold some 2 million barrels of recoverable oil. Midmar and its partner MPX plan to shoot some additional seismic ahead of drilling an appraisal well in 2009.

The company is also looking at international opportunities to expand the portfolio and in July 2008 confirmed its associate company, Mesopotamia Petroleum Company, was in advanced discussion with the state-owned Iraq Drilling Company about forming a joint venture company. Midmar has a 32.67 per cent interest in MPC, which was formed in 2005 for the specific purpose of undertaking operations in Iraq.

Board of Directors and Key Management

Chairman	Peter Redman
Managing Director	Dr Thomas Redman
Financial Controller	Mark Steinwaltz
Exploration Director	Simon Rooksby

Company Address 6 Dean Park Crescent Bournemouth, Dorset, United Kingdom BH1 1HL Telephone: +44 (0)1202 780333 Facsimile: +44 (0)1202 780444 Email: info[at]midmar.co.uk Website: http://www.midmar.co.uk

Additional Address/Key Contact Media Enquiries: Lisa Pope Tel: +44 (0)1252 878682

Related News

30/06/09 - Midmar Energy Sells Onshore Fields For £2 Million As It Seeks Further International Expansion
26/02/09 - Midmar Energy And Ramco Energy Pull Off Historic Oil Deal As They Sign Joint Venture Terms To Start Drilling In Iraq “Within Four Months”
29/01/09 - Midmar Energy Seeks International Production Opportunities

Most Recent Statement

29/06/09 - Midmar Energy Announces Sale Of Uk Onshore Producing Assets For Gbp£2.0 Million
26/02/09 - Holding Statement about Mesopotamia Petroleum Company
26/02/09 - Midmar Signs Historic Joint Venture with Iraqi Drilling Company
09/12/08 - Appointment of New Exploration Director
02/12/08 - Appointment of Exploration Director
23/07/08 - MIDMAR ENERGY CONFIRMS MEDIA COVERAGE ON IRAQ JOINT VENTURE