Dome Energy and Pedevco merger plans cancelled


Dome Energy AB. (https://www.domeenergy.com) (Ticker:
DOME (http://www.nasdaq.com/symbol/els/dome)) (herein after “Dome” and/or “the
Company”) today announces that the Company has received a letter of termination
from PEDEVCO Corp. (http://www.pacificenergydevelopment.com) d/b/a Pacific
Energy Development (NYSE MKT: PED (http://www.nasdaq.com/symbol/ped)) as to the
previous planned merger. Dome has not been able to agree with Pedevco and its
lenders on terms to close the merger. Dome has received offers for financing,
but in the current oil price environment, the conditions was not acceptable to
Pedevco lenders. The termination has no significant financial implications on
Dome Energy AB or its subsidiaries’ result or balance sheet. Dome is now back to
where it was before the negotiations started. Dome will continue its efforts to
review other strategic opportunities. Dome will also continue develop its
portfolio of assets.
Paul Morch, CEO, commented: “We would not have been able to develop any of the
assets in Pedevcos portfolio, as oil prices below $40 per barrel would not be
economical. Dome will be back to business as usual, and investigate other
opportunities.”

For further information please contact:
Paul Morch
Phone: +1 713 385 4104
E-mail: pm@domeenergy.com

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)). Mangold Fondkommission 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.

Attachments

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