Horse Hill-1 Provisional Results at TD, Weald Basin UK

5 November 2014 Doriemus PLC ("Doriemus" or the "Company") Horse Hill-1 Provisional Results at TD, Weald Basin UK Doriemus today announces that the Horse Hill-1 well was successfully completedwith a discovery in the Jurassic and has reached total depth ("TD") at 8,770feet measured depth ("MD") in rocks of pre-Triassic Palaeozoic age, which wereprognosed at that depth. The well has been electrically logged from the previous casing point to TD anda vertical seismic profile ("VSP") has been acquired to correlate the well tothe available 2D seismic data. The logs are now being analysed along with allother relevant data from the well and the initial results are set out below. In addition, the well is currently being prepared for future flow testing inthe identified Jurassic age Portland Sandstone discovery. Portland Discovery The well is currently being prepared for testing and as a probable future oilproduction well from the Portland Sandstone oil discovery, where, as announcedon 24 October 2014, a preliminary most likely estimate of 3.1 million barrels("mmbbls") of gross in place oil has been calculated within the upper Portlandfrom a 102-foot gross oil column, with a further most likely unriskedundiscovered gross oil in place volume of 16.8 mmbbls in a separate lower sandin the Portland interval located in an untested fault block immediately to thesouth. On completion of the analysis of the electric logs and the VSP, Horse HillDevelopments Ltd ("HHDL") as operator, intends to apply to the Department ofEnergy and Climate Control ("DECC") for permission to carry out a flow test onthe Portland Sandstone. Kimmeridge Limestone Potential Geochemical studies, to determine oil source rock richness and thermalmaturity, are being conducted on rock samples from the Kimmeridge Clay, OxfordClay and Liassic Shale formations encountered in the well. The geochemicalanalyses will be integrated with other data in order to evaluate the potentialfor Horse Hill-1, and the area to the southwest, to have generated hydrocarbonsresulting in the trapping of oil in the Portland and other reservoir objectiveswithin the southern area of PEDL 137. Preliminary analysis of samples from the Kimmeridge Clay immediately below thePortland Sandstones, in a section which also contains oil shows and multiplelimestone sections individually up to 105 feet in thickness (refer RNS dated 16October 2014), have higher than expected oil source potential with a measuredtotal organic carbon content ("TOC") of over 5% by weight. The operatorcontinues to investigate the conventional potential of the KimmeridgeLimestones in a possibly analogous situation to the nearby Balcombe oildiscovery. Triassic Target The Triassic target, which although previously untested was believed to havepotential for gas, was penetrated at 8,054 feet MD and an approximately380-foot thick interval, interpreted to be equivalent to the Rhaetic and MerciaMudstone formations, and was drilled without any observable reservoir rocks ormoveable gas being encountered. The Mercia Mudstone overlies and seals the Triassic Sherwood Sandstone oil poolof the Wytch Farm Oil Field in the Wessex Basin. The Horse Hill-1 well resultssuggest the prognosed Triassic reservoir rocks, equivalent to the SherwoodSandstone, are not developed this far north in the basin, though they may bedeveloped to the southwest closer to the center of the basin. The Marriott 50 rig will be demobilised over the coming week from the well siteand all equipment will be removed pending a future decision on testing andproduction. Donald Strang, the Company's Chairman, commented: "Whilst we are naturally disappointed that there was no gas discovery in theTriassic, we remain delighted that the well has made an oil discovery in theJurassic Portland Sandstone and that further opportunities for additional oilpotential have also been revealed by the well, particularly in the KimmeridgeLimestones, both in the licence block and in the wider Weald Basin, and thatthese are now in the process of being assessed. "All the data from the well will now be fully analysed and a decision taken onthe work necessary to appraise and develop the Portland discovery." Doriemus interest in Horse Hill The Horse Hill-1 well is located on the northern side of the Weald Basin nearGatwick Airport. Doriemus owns a 10% interest in Horse Hill Developments Ltd.(HHDL). HHDL is a special purpose company that owns a 65% participatinginterest and operatorship of onshore licences PEDL 137 and the adjacent licencePEDL 246 in the UK Weald Basin. The participants in the Horse Hill-1 well areHHDL with a 65% working interest and Magellan Petroleum Corporation with a 35%interest. Dorimeus' net attributable interest in PEDL 137 and 246 is therefore6.5% 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: 2D seismic seismic data collected using the two-dimensional common depth point method contingent resources those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations, but the applied project(s) are not yet considered mature enough for commercial development due to one or more contingencies. Contingent Resources may include, for example, projects for which there are currently no viable markets, or where commercial recovery is dependent on technology under development, or where evaluation of the accumulation is insufficient to clearly assess commerciality 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 electric logs tools used within the wellbore to measure the rock and fluid properties of surrounding rock formations MD measured depth oil in place the quantity of oil or petroleum that is estimated to exist originally in naturally occurring accumulations before any extraction or production reservoir a subsurface rock formation containing an individual natural accumulation of moveable petroleum that is confined by impermeable rock/formations TD total depth TOC total organic carbon - a measure of hydrocarbon source rock richness TVDss true vertical depth below a subsea datum undiscovered those quantities of petroleum which are estimated, as of a given date, to be contained within accumulations that have not been tested by drilling VSP vertical seismic profile For further information, please contact: Doriemus plcDonald Strang/Hamish Harris +44 (0) 20 7440 0640 Cairn Financial Advisers LLP +44 (0) 20 7148 7900James Caithie / Jo Turner / Carolyn Sansom Public Relations +44 (0) 20 7929 5599Square 1 Consulting LtdDavid Bick/Mark Longson

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