Dome Energy AB Completes Sale of US Operations

Dome Energy AB. (https://www.domeenergy.com) (Ticker:
DOME (http://www.nasdaq.com/symbol/els/dome)) is pleased to announce that it has
entered into an Agreement and Plan of Reorganization with PEDEVCO
Corp. (http://www.pacificenergydevelopment.com) d/b/a Pacific Energy Development
(NYSE MKT: PED (http://www.nasdaq.com/symbol/ped)), for the sale of Dome’s
entire US asset base.

Structured as the sale of Dome’s wholly owned subsidiary Dome Energy Inc., the
proposed transaction, will see Dome Energy AB shareholders receive ~152.6
million shares of PEDEVCO common stock, representing ~64% of the total shares in
the newly merged entity.

Following the completion of the sale of the US assets, the intention is that the
net proceeds of the transaction (shares in PED) will be distributed to the
shareholders of Dome Energy AB. The Board of Directors will evaluate
alternatives for the continuation of Dome Energy AB. and present a plan at the
Annual General Meeting on June 25, 2015.

At closing, Dome Energy Inc.’s CEO and President, Paul Morch, will become CEO
and President of the combined entity, with the current CEO of PEDEVCO, Frank
Ingriselli, becoming Chairman of the Board. The Companies expect to complete the
transaction no later than November 19, 2015. Final terms will be presented
before the Annual General Meeting and are subject to shareholder approval.

The companies anticipate that combined production for the merged entity will be
approximately 3,300 boepd with proven reserves of approximately 20 million
barrels of oil equivalent. The Company believes the strong cash flow and
scalability of the combined assets along with operational and financial
efficiencies will enhance shareholders value for both Companies.

Chief Executive Officer, Paul Morch, stated: “This is one step closer to
achieving our vision of securing scalable shale assets to complement our
existing portfolio. Our goal is to grow organically to reach 10,000 boepd
through the organic development of our asset base. We now have secured a solid
financial base along with some of the most profitable grade shale acreage in the
US. We are excited to work together with the PEDEVCO team to bring this
transaction to a close. The oil price has seen a good correction from levels
earlier this year, which supports an aggressive development of our assets. Good
shale assets are considered more valuable than ever, and the development costs
have started to balance at an attractive level. Core acreage in PEDEVCO’s
acreage should support more than 100 wells being developed at current oil and
gas prices. We will also hold inventory than can be scaled to several hundred
wells at a higher oil price.”

For further information please contact:

Susanna Helgesen, CFO
Phone: +46 708 27 86 36
US phone: +1 281 558 8585
E-mail: sh@domeenergy.com

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About Dome Energy
Dome Energy AB. is an independent Oil & Gas Company publicly traded on the
Nasdaq OMX First North exchange in Sweden (Ticker:
DOME (http://www.nasdaq.com/symbol/els/dome)). Remium Nordic AB is the Company’s
Certified Adviser. Headquartered in Houston, Texas, the Company’s focus is on
the development and production of existing onshore Oil & Gas reserves in the
United States. For more information visit www.domeenergy.com.

About Pacific Energy Development (PEDEVCO Corp.)
PEDEVCO Corp, d/b/a Pacific Energy Development (NYSE MKT:
PED (http://www.nasdaq.com/symbol/ped)), is a US publicly-traded energy company
engaged in the acquisition and development of strategic, high growth energy
projects, including shale oil and gas assets, in the United States. The
Company’s principal asset is its D-J Basin Asset located in the D-J Basin in
Colorado. Pacific Energy Development is headquartered in Danville, California,
with an operations office in Houston, Texas. For more information visit
www.pacificenergydevelopment.com