Update on Horse Hill discovery, UK Weald Basin

18 March 2015 Doriemus plc ("Doriemus" or "the Company") Update on Horse Hill discovery, UK Weald Basin Update on Nutech well analysis - Further potential oil pay identified Doriemus plc (AIM: DOR) is pleased to announce that UK Oil and GasInvestments Plc ("UKOG"), has made the following positive news release withrespect to the Horse Hill -1 well in the UK's Weald Basin. Doriemus interest in Horse Hill: The Horse Hill-1 well is located within onshore exploration licensePEDL 137, on the northern side of the Weald Basin near Gatwick Airport.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 licence PEDL 137 and the adjacent licence PEDL 246 in the UKWeald Basin. The participants in the Horse Hill-1 well are HHDL with a 65%working interest and Magellan Petroleum Corporation with a 35% interest. Enquiries: Doriemus plcDonald Strang/Hamish Harris +44 (0) 20 7440 0640 Cairn Financial Advisers LLP:James Caithie / Carolyn Sansom +44 (0) 20 7148 7900 Public Relations: +44 (0) 20 7929 5599Square 1 Consulting LtdDavid Bick/Mark Longson UKOG news Release of 18 March 2015 in full is as follows: London listed UK Oil & Gas Investments PLC (LSE AIM: UKOG) is pleased toannounce that ongoing well analysis of the Horse Hill-1 well ("HH-1") in theUK's Weald Basin with alliance partner NUTECH Ltd ("NUTECH") has identifiedthat, in addition to the previously reported 102 feet of Portland sandstonegross oil pay, a further 407 net feet of potential oil pay calculated fromelectric logs exists within limestones and claystones of the Kimmeridge Clay("Kimmeridge"), Oxford Clay ("Oxford") and Middle Lias ("Lias") Formations. Stephen Sanderson, UKOG's CEO, commented: "The additional 250 geochemical analyses confirm that the HH-1 well penetrateda very thick section of world class, thermally mature, oil saturated sourcerocks in the Kimmeridge section encasing the Kimmeridge limestones and we lookforward to receiving NUTECH's further rock sample analyses and the resultantfinal log interpretation in the coming few weeks." "Of greatest note is that NUTECH's initial log analyses, utilising all thegeochemical calibration points, strongly indicates that the Kimmeridgecontains a potential oil pay section calculated from electric logs of over 300feet with a further 73 feet of potential oil pay in the Oxford and Lias. Thefact that the Kimmeridge potential pay section displays elevated electric logresistivity measurements within a sampled zone exceeding 2% TOC adds strengthto NUTECH's interpretation." "NUTECH's further lab analyses, specifically focussed to help calibrateelectric log measurements of total porosity, are thus absolutely fundamentalto provide the company with confirmation of the potentially significantoil-in-place contained in the well. The data and analyses to date give strongencouragement that the company has encountered something new and substantivein the Kimmeridge section of PEDL137 and PEDL246 to add to the HH-1 Portlandsandstone oil discovery." Update on HH-1: Further to the announcement of 17 December 2014, UKOG has now received andcompleted the analysis on all the outstanding 277 geochemical samples coveringthe main areas of interest in the HH-1 well within the PEDL137 and PEDL246licences, as announced on 17 December 2014. Detailed geochemical analysis,comprising a total of 270 Total Organic Carbon ("TOC") and 28 RockEvalpyrolysis analyses, was undertaken on drill samples, predominantly at 10 footdepth intervals, from 2510 to 5530 feet measured depth ("ftmd") and 6680-8620ftmd covering the main formations of interest in the prospective JurassicPortland, Kimmeridge, Oxford and Lias sections of the well. Furthermore, thesegeochemical analyses have been incorporated by NUTECH, one of the world'sleading companies in petrophysical analysis and reservoir intelligence, into apreliminary electric log interpretation of the HH-1 well which demonstratesthat, in addition to the previously reported 102 feet of Portland sandstonegross oil pay, a further 407 feet of potential oil pay exists in the wellwithin the limestone and claystone sections of the Kimmeridge, Oxford and LiasFormations. Geochemical results: The results of the HH-1 detailed geochemical analysis confirm and concludethat the 1496 ft vertical thickness of Kimmeridge section in HH-1 containsthree discrete thermally mature, highly organic rich, world class, claystonesource rock units lying directly above, below and between the Upper and LowerKimmeridge micritic limestone bands (see UKOG RNS Dec 17 2014). The Upper,Middle and Lower Kimmeridge source rock units contain in excess of 780 feet ofdrilled section exceeding 2% TOC by weight, with an average of 4.1% TOC. Therichest section, and possible sweet spot, lies between the base of the UpperLimestone and Top Lower Limestone at 2931-3084 ftmd with an average of 5% TOCand a high of 9.4% TOC. Additional pyrolysis results confirm that the sourcerichness of the three Kimmeridge source units is very high with measuredGenerative Potentials ("S2") ranging from an average of 35 kg/tonne to a highof 103 kg/tonne and with Hydrogen Indices ("HI") averaging 754 with a highexceeding 1000. The new geochemical analyses demonstrate that an additional 140 feet thick,thermally mature, claystone source rock unit, exceeding 1% TOC, exists at thebase of the Middle Jurassic Oxfordian to Cornbrash section from 5400-5540ftmd. A distinct 50 foot section from 5450-5500 ftmd shows average metrics of2.6% TOC, S2 of 16 Kg/tonne and an HI of 617. Furthermore a 60 foot thicksection of the Lias from 7400-7460 ftmd exceeds 1% TOC, with average metricsof 1.5% TOC, S2 of 5 kg/tonne and HI of 443. More samples from this 60 footLias zone will be sent for additional RockEval pyrolysis. Further geochemical analysis is planned in the well to understand thepercentage of organic matter converted to hydrocarbons within all identifiedsource units in the well together with values of initial TOC, S2 and HI priorto entering the hydrocarbon generative window Thermal maturity: As detailed in UKOG's 17 December 2014 RNS the Kimmeridge, Oxfordian and Liassections in the well are interpreted to be thermally mature for hydrocarbongeneration, with measured Vitrinite Reflectance ("Ro") exceeding 0.61% at 2720ftmd/2450 feet true vertical depth ("tvdss"). The basal unit of the Kimmeridgesection falls within the peak oil generation window with a measured Ro of0.81% at 4180 ftmd/3530 ft tvdss. NUTECH Initial Log Analyses: Since the 29 January 2015 UKOG and Solo Oil Plc alliance with NUTECH, UKOG hasbeen working closely with NUTECH's Houston based team to derive an initialview of electric log derived reservoir parameters, including oil in placevolumes and rock mechanical properties, encountered in the HH-1 discovery. NUTECH's initial electric log analysis, utilising the 298 geochemical samplesfor calibration, indicates that in addition to the Portland sandstone paypreviously reported, the HH-1 well contains 407 net feet of net oil saturatedpotential pay within the limestones and claystones of Kimmeridge, Oxford andLias sections of the well. The three Kimmeridge source units with TOCs above 2%, are interpreted byNUTECH to contain a total of 334 feet of net oil saturated potential pay. Thisinterpreted Kimmeridge pay section demonstrates an elevated resistivityresponse compared to background non-source units of similar lithology. An additional 43 feet of potential oil pay within a gross 90 foot interval isinterpreted to exist within the claystones of the Middle Jurassic Oxford andCornbrash section. A 30 foot potential pay zone in claystones is alsocalculated in the Lias, however, this interval has only two samples bothdemonstrating less than 2% TOC. The geochemical and NUTECH initial log interpretation results are summarisedin Table 1 below: Table 1: Geochemical and NUTECH initial log analysis run Gross NUTECH Source Unit Generative Hydrogen Index Measured Potential, S2 Formation Thickness Net Oil Kg H/tonne Interval zone TOC Weight % kg/tonne >2% TOC Feet Feet Average Max Average Max Average MaxKimmeridge 780 334 4.1 9.4 35 103 754 1000+Oxfordian 90 43 2.6 2.8 16 19 617 671Lias - 30 * 1.5 1.6 5 6.5 443 445Table 1: Geochemical and NUTECH initial log analysis run, source UKOG andNUTECH, *Calculated in a zone with 2 rock samples showing