Doriemus : Horse Hill 1 and Horse Hill 2/2z drilling and testing update

Doriemus Plc

ARBN: 619 213 437

Head Office:

Suite 3b, 38 Jermyn Street

Princes House

London, UK

Sw1Y 6DN

Phone: +44 2074400642

Fax: +44 2074400641

Email: info@doriemus.co.uk

Website: www.doriemus.co.uk

Australian Contact Information:

Julia Beckett

Joint Company Secretary

Tel: + 61 8 6245 2050

Email:julia@everestcorp.com.au

Address:

Suite 12, Level 1

11 Ventnor Avenue

West Perth WA 6005

Australia

Postal Address:

PO Box 1240

West Perth WA 6872

Directors:

Non-Executive Chairman

Keith Coughlan

Technical Director

Greg Lee

Non-Exec Director

Don Strang

Corporate Information: ASX Code: DOR

Horse Hill 1 and Horse Hill 2/2z drilling and testing update

Doriemus Plc (ASX: DOR) ("Doriemus" or the"Company"), is pleased to announce that the operator of Horse Hill licences, Horse Hill Developments Limited ("HHDL"),has informed the company of the following update.

Final site works to accommodate the arrival of the rig to drill the new Horse Hill-2/2z("HH-2/2z") Portland horizontal well commenced at 1200 hrs, Friday 30 August and were completed yesterday.

Test production from the Horse Hill-1("HH-1") Kimmeridge oil pool was temporarily shut-in to allow oil storage tanks and flowlines to be relocated to enable safe simultaneous independent operations involving drilling and HH-1 testing. The extended well testing of the Kimmeridge formation has now resumed and will continue until the rig arrives. At that stage a further short shut-in of HH-1 will occur to enable the HH-2/2z drilling rig and equipment to be assembled.

Prior to the current shut-in, Kimmeridge test production reached a total of 36,559 barrels ("bbl") of dry Brent quality crude at a final metered rate of 313 bbl of oil per day ("bopd") over the final 48-hour test period. Peak instantaneous rates of up to 374 bopd were recorded during this period. Total aggregate Portland and Kimmeridge test production now stands at a landmark 66,127 bbl. Kimmeridge production is planned to continue during the drilling campaign.

Having signed the relevant drilling and service contracts, the rig is now scheduled to arrive later in September to commence drilling and coring the HH-2 vertical pilot hole, expected to be completed in around 30 days from start. The horizontal well section, HH-2z, with a planned trajectory of up to 1000m wholly within the Portland reservoir, will follow directly afterwards. Further operational updates will be issued in due course.

Horse Hill 2018-19 Test Oil Production Milestones:

• 66,127 bbl aggregate Kimmeridge and Portland oil production
• 36,559 bbl total Kimmeridge oil production
• 29,568 bbl total Portland production
• No discernible formation water produced from either reservoir

Doriemus has a 4% interest in HHDL, for an effective 2.6% interest in the Horse Hill oilfield and surrounding PEDL137 and PEDL246 licences (together the "Horse Hill Project").