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Doriemus PLC (DOR)

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Friday 05 June, 2015

Doriemus PLC

Independent Assessment of Horse Hill-1 Well

5 June 2015


                                 Doriemus plc                                  

                         ("Doriemus" or the "Company")                         

                  Independent Assessment of Horse Hill-1 Well                  

The Board of Doriemeus plc (AIM: DOR) announces that Schlumberger, one of the
leading suppliers of technology, integrated project management and information
solutions to customers working in the global oil and gas industry, has
independently assessed the petrophysics of Horse Hill-1 well ("HH-1"), located
in PEDL137 in the Weald basin near to London Gatwick Airport, in which the
Company has net attributable interest of 6.5%.

The report, entitled Petrophysical Evaluation of the Horse Hill-1 Well,
estimates an overall Oil in Place ("OIP") for the Jurassic section of the well
to be 271.4 million barrels of oil ("MMBO") per square mile. The total OIP
comprises 16.2 MMBO per square mile for the conventional Upper Portland Sand
reservoir discovery and 255.2 MMBO per square mile solely for the tight
limestone and mudstone plays of the Kimmeridge, Oxford Clay and Lias. The OIP
hydrocarbon volumes estimated should not be construed as recoverable resources
or reserves.

The report, which is addressed to UK Oil & Gas Investments plc ("UKOG") is
available on UKOG's website

Doriemus' interest in Horse Hill:

The Horse Hill-1 well is located within onshore exploration License PEDL137, on
the northern side of the Weald Basin near Gatwick Airport. Doriemus owns a 10%
direct interest in Horse Hill Developments Ltd. HHDL is a special purpose
company that owns 65% participating interests and is the operator of licence
PEDL137 and the adjacent licence PEDL246 in the UK Weald Basin. The remaining
35% participating interests in the PEDL137 and PEDL246 licenses are held by
Magellan Petroleum Corporation.

Donald Strang, Doriemus' Chairman, commented:

"This independent technical viewpoint adds further weight to the potential
significance of the HH-1 well and the potential of the Horse Hill licences."

Schlumberger is acting exclusively for UKOG and for no one else in connection
with the subject matter of this announcement and will not be responsible to
anyone other than UKOG in connection therewith. No person or company other than
UKOG may directly or indirectly rely upon the contents of its report.
Schlumberger is acting in an advisory capacity only and, to the fullest extent
permitted by law, disclaims all liability for actions or losses derived from
any actual or purported reliance on its report (or any other statements or
opinions of Schlumberger) by any person or entity other than UKOG.

Restoration of trading

Restoration of trading in the Company's shares is scheduled for today, 5 June

For further information please contact:

Doriemus plc                                                                   
Donald Strang/Hamish Harris                         +44 (0) 20 7440 0640              
Cairn Financial Advisers LLP:                                                  
James Caithie / Sandy Jamieson/ Carolyn Sansom      +44 (0) 20 7148 7900              
Public Relations:                                   +44 (0) 20 7929 5599              
Square 1 Consulting Ltd                                                        
David Bick/Mark Longson                                                        


conventional oil     a play where oil is found or expected to be present within
play                 a conventional reservoir. The term can be applied to a    
                     play where the trapped petroleum is defined by a          
                     discovered discrete petroleum accumulation or play related
                     to localized geological structural features and/or        
                     stratigraphic condition, typically with the accumulation  
                     bounded by a downdip contact with an aquifer, and which is
                     significantly affected by hydrodynamic influences such as 
                     the buoyancy of petroleum in water.                       
conventional         a reservoir normally with an average permeability         
reservoir            exceeding 1 milliDarcy.                                   
discovery            a discovery is a petroleum accumulation for which one or  
                     several exploratory wells have established through        
                     testing, sampling and/or logging the existence of a       
                     significant quantity of potentially moveable hydrocarbons 
limestone            a sedimentary rock predominantly composed of calcite (a   
                     crystalline mineral form of calcium carbonate) of organic,
                     chemical or detrital origin. Minor amounts of dolomite,   
                     chert and clay are common in limestones. Chalk is a form  
                     of fine-grained limestone.                                
mudstone             an extremely fine-grained sedimentary rock consisting of a
                     mixture of predominantly clay plus silt-sized particles.  
oil initially in     the quantity of oil or petroleum that is estimated to     
place or             exist originally in naturally occurring accumulations     
                     before any extraction or production                       
oil in place                                                                   
play                 a set of known or postulated oil and or gas accumulations 
                     sharing similar geologic, geographic, and temporal        
                     properties, such as source rock, migration pathways,      
                     timing, trapping mechanism, and hydrocarbon type          
recoverable          those quantities of petroleum (oil in this case)          
resources            estimated, as of a given date, to be potentially          
                     recoverable from known accumulations                      
reserves             those quantities of petroleum anticipated to be           
                     commercially recoverable by application of development    
                     projects to known accumulations from a given date forward 
                     under defined conditions; reserves must further satisfy   
                     four criteria: they must be discovered, recoverable,      
                     commercial and remaining (as of the evaluation date) based
                     on the development project(s) applied; reserves are       
                     further categorized in accordance with the level of       
                     certainty associated with the estimates and may be        
                     sub-classified based on project maturity and/or           
                     characterised by development and production status        
reservoir            a subsurface rock formation containing an individual      
                     natural accumulation of moveable petroleum.               
tight oil play       a play where oil is found or expected to be present within
                     a reservoir with low permeability i.e. a tight reservoir. 
                     The term in the case of HH-1, is applied to a play where  
                     trapped petroleum accumulations are expected to be        
                     pervasive throughout a large area and that are not        
                     significantly affected by hydrodynamic influences (also   
                     called "continuous-type deposits").

a d v e r t i s e m e n t