Dove Energy has an enviable operating track record. Since 1998, Dove Energy has concentrated on exploration and development of its primary asset, the Block 53 East Sarr Licence in Onshore Yemen. This has resulted in the development of the Sharyoof Oil Field which was discovered by Dove Energy following an exploration phase involving acquiring, processing and interpreting 2D seismic data and the drilling of two exploration wells. The discovery of the Sharyoof Field resulted in the fast track development of a 25,000 BOPD Central Processing Facility in a remote jebel top location in the Wadi Hadramaut area of Yemen.

Since the discovery of the Sharyoof Field, DEG and its partners have invested more than US$ 196 million of capital (US$ 63 million at Dove’s 32.6% working interest) into the Block 53 fields by the end of 2007, in drilling, installing production & export facilities, and acquiring 3D seismic. DEG’s 2008 turnover from Yemen Block 53 operations is estimated at US$ 34 million, with a net cash flow of US$ 12 million, after taking into account field operating costs of US$ 11 per barrel, and capital expenditures. Capital costs over the full life of the field are approximately US$ 6 per barrel. The remaining proven and probable reserves are estimated to be 24.6 million barrels at 1st January 2010. read more

Over the last few years, a new exploration play has emerged in Yemen in the fractured basement. Dove began exploration of this play in Block 53 during 2005. Well Bayoot SW-1 was spudded on 10th December, 2005 – Dove’s first such exploration well. The well contained oil in the basement and Madbi formations and was tested. Since then a further 9 wells have been drilled in this area with over 2 million barrels produced to date from the basement. read more

In 2005, the Yemen Block 73 PSA was ratified by the government for a first phase of exploration. Work obligations included the re-processing of the existing seismic data, acquisition of 300 km of 2D data and drilling the first exploration well. All these obligations have been met and the license entered Phase 2 in January ’09. The work obligations for Phase 2 are identical to the first phase. The contract award for seismic acquisition will be made shortly. The 2D work obligation has been converted to a 3D programme to better de-risk the prospects. read more

In 2008, Dove farmed into an onshore permit in Tunisia – El Fahs. The licenses is still in its original term of 3 ½ years. The work commitments were re-processing 100km of vintage seismic, acquiring 100 km of 2D seismic and drilling a single well. A rig contract has recently been signed to drill this well, all other obligations have been met. The Tunisia license is non-operated.