Doriemus : Horse Hill-2/2z Operational Update

Doriemus Plc

ARBN: 619 213 437

Head Office:

Suite 3b, 38 Jermyn Street

Princes House

London, UK

Sw1Y 6DN

Phone: [phone]

Fax: [phone]

Email: [e-mail]

Website: www.doriemus.co.uk

Australian Contact Information:

Julia Beckett

Joint Company Secretary

Address:

Suite 12, Level 1

11 Ventnor Avenue

West Perth WA 6005

Australia

Postal Address:

PO Box 1240

West Perth WA 6872

Tel: [phone]

Email:[e-mail]

Directors:

Non-Executive Chairman

Keith Coughlan

Technical Director

Greg Lee

Non-Executive Director

Don Strang

Corporate Information: ASX Code: DOR

ASX / Media Announcement

9 October 2019

Horse Hill-2/2z Operational Update

Doriemus Plc(ASX: DOR) ("Doriemus" or the "Company"), announces that it has been informed by UK Oil & Gas Plc ("UKOG"), the majority owner of Horse Hill Developments Limited ("HHDL") who is the operator of Horse Hill licences PEDL 137 and PEDL 246 in which Doriemus has a 2.6% interest, of the following operational update:

• HH-2/2Z12 ¼" hole has been drilled to a current total depth of 615.4 m (1019 ft) from the Rotary Table (RT).
• 9 5/8" Casing has been successfully run, set and cemented to surface.
• After installing and testing the blow out preventor (BOP's) (expected to be today) the 8 ½"hole will be drilled to coring point where 3 x 18.3 m (60 ft) cores are expected to be drilled through the oil bearing Portland reservoir.
  Note:
• 1. HH-2/2z,the first of two new horizontal wells in the field's Portland oil pool, is designed to be retained as a future production well, capable of delivering flow rates significantly higher than the results obtained from the extended well test of the HH-1 vertical Portland Sandstone discovery well.
  2. The coring program is planned to allow the acquisition of key reservoir and formation data that will ensure the planned 1000mHH-2z horizontal section is drilled in the best possible section of the Portland in the most productive zone with best reservoir characteristics.
  3. It is intended to complete drilling the vertical pilot hole followed by a

horizontal well using the same wellbore to kick off into the horizontal

Forward Drilling Plans

• Following the coring program, the well will drill ahead to the planned total vertical depth (TD) then the open hole section will be electric logged.
• The well will and then plugged back to the intended horizontal"kick-off" point with cement.
• The well and directional equipment will then be prepared to drill the 1000m horizontal section ofHH-2z's.
• Further drilling and testing updates will be issued in due course.

CONTACT:

For further information on this update or the Company generally, please visit our website at www.doriemus.co.ukor contact:

Julia Beckett

Joint Company Secretary

Tel: [phone] Email: [e-mail]

1 |P a g e

FORWARD LOOKING STATEMENTS AND IMPORTANT NOTICE:

This announcement may contain forecasts, projections and forward-looking information. Although the Company believes that its expectations, estimates and forecast outcomes are based on reasonable assumptions it can give no assurance that these will be achieved. Expectations, estimates and projections and information provided by the Company are not a guarantee of future performance and involve unknown risks and uncertainties, many of which are out of the Company's control. In respect to its UK operations, Doriemus is reliant on the information provided by the operators of those assets and does not control the day to day operations of these projects and is not always able to independently verify the information provided by such operators. Actual results and developments may differ materially from those expressed or implied. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by many variables which could cause actual results or trends to differ materially. To the maximum extent permitted by applicable laws, the Company makes no representation and can give no assurance, guarantee or warranty, express or implied, as to, and takes no responsibility and assumes no liability for (1) the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omission from, any information, statement or opinion contained in this announcement and (2) without prejudice to the generality of the foregoing, the achievement or accuracy of any forecasts, projections or other forward looking information contained or referred to in this announcement.

Investors should make and rely upon their own enquiries before deciding to acquire or deal in the Company's securities.

QUALIFIED PETROLEUM RESERVES AND RESOURCES ESTIMATOR STATEMENT:

Unless otherwise specified or referenced, the technical information and resource reporting contained in this announcement was prepared by, or under the supervision of, Mr Gregory Lee, who is the Technical Director of the Company. Mr Lee has more than 30 years' diversified experience in the petroleum industry. Mr Lee is a chartered professional Engineer (CPEng) and a member of the society of petroleum engineers (MSPE) and has been an independent consultant Petroleum Engineer since 1992 and has sufficient experience in exploration for, appraisal and development, operations of oil and gas resources.

2 |P a g e