Doriemus PLC - Issue of Equity

PR Newswire
London, December 2

2 December 2016

Doriemus Plc

("Doriemus" or the "Company")

Issue of Equity to fast track UK onshore oil investment strategy

Doriemus (ISDX: DOR) announces that it has raised £250,000, gross of expenses, through the issue of 714,285,714 new Ordinary Shares of 0.001p each in the Company ("Placing Shares") at a placing price of 0.035 pence per share with private investors ("the "Placing"). This Placing is to raise funds to assist in progressing possible investment opportunities that the Company is currently reviewing and to ensure that we have sufficient working capital available to keep up with anticipated expenditure with respect to increased onshore UK oil drilling activity.

On admission, the Placing Shares rank pari passu with the existing Ordinary Shares.

The Company will therefore have 11,426,285,711 Ordinary Shares in issue with voting rights and admitted to trading on ISDX. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

David Lenigas, The Company's executive Chairman, commented;

"The Company has a strong balance sheet and no debt post the closing of the fully subscribed and recently closed Open Offer, however the board is excited about a number of opportunities that we are looking at in the UK onshore space and we need to be properly cashed up to explore and potentially exploit these opportunities in order to be a meaningful player in the UK onshore oil production sector. OPEC's recent announcement to reduce OPEC oil supply by 1.2 million barrels a day globally is seen as very positive for future oil prices rises as this effectively takes out the over supply that has been overhanging the markets and we see this as creating a lot more investment opportunities in the UK for an oil investment company like Doriemus."

The directors of Doriemus accept responsibility for this announcement.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Doriemus Plc: David Lenigas Hamish Harris Donald Strang	[phone]
Peterhouse Corporate Finance Limited Corporate Adviser Guy Miller / Fungai Ndoro	[phone]