Drilling Update, Horse Hill-1, Weald Basin UK

16 October 2014 Doriemus plc ("Doriemus" or the "Company") Drilling Update, Horse Hill-1, Weald Basin UK Doriemus Plc (AIM: DOR) today advises that the Horse Hill-1 well has now beendrilled to the third casing point at 6,612 feet measured depth ("MD"), and willnow be electrically logged through the observed reservoir sections. Electroniclogging and full interpretation of these logs is expected to take approximatelyone week. The depth of the third casing point was deepened from the previously announced5,900 feet to 6,612 feet MD due to a number of reservoir targets beingidentified slightly deeper and thicker than expected. On completion of the detailed logging, it is planned that a 9 5/8-inch casingwill be set prior to drilling in an 8 ½-inch hole to a total depth ("TD") ofapproximately 8,680 feet MD in order to test for deeper Triassic agedformations where further electric logs will be acquired. As previously announced, oil shows from mud logging have been identified in thePortland Sandstones and additionally oil shows, mineral fluorescence andelevated gas readings of C1 through to C5 have been detected whilst drillingthe well to the current depth. The significance of these hydrocarbon shows willonly become clear following the analysis of the detailed down-hole electriclogs. Doriemus owns a 10% direct interest in Horse Hill Developments Ltd ("HHDL"). HHDL is a special purpose company that owns a 65% participating interest andoperatorship of onshore licences PEDL137 and the adjacent licence PEDL 246 inthe UK Weald Basin. The participants in the Horse Hill-1 well are HHDL with a65% working interest and Magellan with a 35% interest. Donald Strang, the Company's Chairman, commented: "We await the results of the all-important electric logs from the Jurassic overthe coming week. We also look forward to drilling the well to its TD to testthe theory that hydrocarbons may be present in the Triassic." Competent Person's Statement: The technical information contained in this announcement has, for the purposesof the AIM Guidance Note for Mining, Oil and Gas companies has been reviewedand approved by Jonathan Tidswell-Pretorius, Executive director at HHDL andChairman of Angus energy Ltd a UK registered onshore operator who has 15 yearsof relevant experience in the oil and gas industry. Mr. Tidswell-Pretorius is amember of the Society of Petroleum Engineers and United Kingdom Onshore Oil andGas (UKOOG) industry bodies. Glossary: Fluorescence: The natural property of minerals and fluids to emit light,characteristic in certain situations, of the presence of hydrocarbons C1 to C5: Hydrocarbon gases from spectrometry showing the presence of C1(methane), C2 (ethane), C3 (propane), C4 (butane) and C5 (pentane) Oil shows: Indications of the presence of oil within a porous and permeablerock matrix Drill cuttings: Rock chips from the subsurface formations recovered byfiltering the drilling mud MD: measured depth TD: total depth Mud logging: Analysis of rock and fluid samples recovered at surface from thedrilling fluids (mud) Mud gas: Gases recovered from the drilling fluids (mud) (Drilling) Mud: Drilling fluid used to clean and lubricate the drilling processand recover samples of the sub-surface formations to surface Enquiries: Doriemus plc +44 (0) 20 7440 0640Donald Strang/Hamish Harris Cairn Financial Advisers LLP +44 (0) 20 7148 7900Nominated Adviser and BrokerJames Caithie/Jo Turner/Carolyn Sansom