Doriemus Regulatory News (DOR)

Doriemus PLC

("Doriemus" or the "Company")

Further Update on Horse Hill-1 Flow Test

Portland Zone Flows Oil at a Sustained Rate of 168 Barrels Per Day

Doriemus (AIM: DOR) announces that Horse Hill Developments Limited ("HHDL") has informed the Company that 37-degree API, light, sweet, dry (99-100% oil) crude has flowed to surface, via rod pumping, at an average stabilised rate of 168 barrels per day over a continuous 9-hour period. The flow is from a 103-ft aggregate perforated zone within the Upper Portland sandstone interval at a depth of approximately 615 metres below ground level. Maximum flow during this test period was restricted by the initial rod pump configuration. The flow test will now continue with a pump configuration designed to permit optimal flow over a longer flow period.

The Horse Hill-1 ("HH-1") well has now produced at a combined average stable rate of over 1,528 bopd from the two Kimmeridge and Upper Portland zones.

It should be noted that the only commercial Upper Portland oil production in the Weald Basin is from the nearby Brockham field, 8 km to the northwest of HH-1, in which the Company has a 10% interest. The Brockham field was discovered by BP in 1987 and flowed 28-degree API oil on an extended well test in 1988, at a maximum stabilised rate on pump of 117 bopd. A subsequent extended well test in 2001, prior to commercial production, produced oil at an average pumped rate of approximately 140 bopd.

Horse Hill-1 Discovery Well and Licence

The exploration drilling phase of the HH-1 discovery well was originally completed at the end of 2014. The well is located within onshore exploration Licence PEDL137, on the northern side of the Weald Basin near Gatwick Airport. Doriemus owns a 6.5% interest in PEDL137.

The Board commented:

"This is further exciting news on our investment. We are very appreciative of the hard work currently being undertaken by Mr Sanderson and the Horse Hill company and we look forward to further news from the test program. ‎"

Interest in Horse Hill:

Doriemus owns a 10% direct interest in HHDL. HHDL is a special purpose company that owns a 65% participating interest and operatorship of Licence PEDL137 and the adjacent Licence PEDL246 in the UK Weald Basin.

Qualified Person's Statement:

Stephen Sanderson, who has over 35 years of relevant experience in the oil industry, has approved the information contained in this announcement. Mr Sanderson is a Fellow of the Geological Society of London and is an active member of the American Association of Petroleum Geologists.

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