Dome Energy AB. (Ticker: DOME) herein after “Dome” and/or “the Company”) is pleased to provide an operational update on the ongoing drilling operations of the Gulf Lee Hager Fee #38 well (GLHF #38) on the Orange field, Texas.

Following the successful drilling of GLHF #37 at the start of January where hydrocarbon bearing zones were encountered in both Miocene and Frio sands, an offset well GLHF #38 from the same drilling pad was spud on the 8th of January 2015. GLHF #38 was drilled to target both Miocene and Het sands up-dip of the structure encountered in GLHF #37. Total Depth (TD) of 6,068 ft was achieved on January 16th. Initial logging results have indicated potentially six hydrocarbon bearing zones in both Miocene and Het sands, the well will be cased and cemented.

Paul Morch, CEO commented; “With another well logged we have two wells showing promising results in both primary and secondary targets. After the drill rig has been removed from the drilling pad we will begin testing both the wells in the coming weeks, and hopefully get these quickly on production. Flow rates will give us estimates for the well economics and determine the next drilling programs at Orange Field. All drilling and service costs has decreased rapidly in the last few months due to the lower oil price, and we hope to take advantage of this for next planned wells.”