Dome Energy Executes Agreement for Significant Favorable Debt Refinancing

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 its wholly owned subsidiaries have entered into a
forbearance agreement (the "Forbearance Agreement") with it’s debtholders in
respect to loans made by the lenders (the "Lenders") under the Credit Agreement,
dated as of August 8, 2014.

Highlights
- Reduction of total debt from approx. $55,000,000 to <$24,000,000.
- Dome Energy Inc. will monetize its current hedge portfolio for $4,100,000.
- Dome Energy AB. has agreed with Range Ventures LLC in principle, on a
conversion of the Note payable to shares at a price of 1 USD per share. The
proposal is subject to shareholder approval at the next shareholder meeting on
June 21, 2016.

Debt Reduction
Dome Inc. has signed a forbearance agreement with the Administrative Agent on
behalf of Dome’s lenders, for refinancing to reduce debt and improve Dome’s
balance sheet. As part of the agreement, Dome Energy Inc. has sold off all of
its hedges to repay the debt. In turn, the Lenders have agreed to offer a debt
reduction based on Dome’s current debt of $38,000,000 to $24,000,000. The value
of the debt forgiveness is approx. 3 SEK per share.

As part of the condition of the reduction of the debt, Dome Is required to re
-finance the remaining debt with another lender. Dome has received multiple
offers from several established large US based funds, to replace the existing
debt with new debt at acceptable market conditions. We believe, we will close
this transaction within 60 days.

Range Ventures
One of the Company’s lenders, Range Ventures LLC, has agreed in principle, to
convert its receivables at a considerable premium to market. The conversion will
be at USD 1 (approx. 8 SEK) per share compared with a current share price of
approx. USD 0,33 (approx. 2,70 SEK) per share. The current face value of
$12,000,000 will be converted to approximately 12,000,000 shares based on
shareholders’ approval. The conversion of the debt to shares is conditional on
the closure of the refinancing offer in Dome Energy AB, and to shareholders
approval of issuing shares to pay for the debt at the next shareholders
assembly.

Following the debt write-down, sale of hedges and conversion of the Range
Ventures LLC debt, Dome Energy’s new debt will stand at approximately
$24,000,000.

Paul Morch stated: “It is with great pleasure that we can announce the
refinancing for Dome Energy AB and our subsidiaries. This process has taken over
six months, and taken significant staff resources and time throughout the
period. The general oil price turmoil and difficult economics during this period
has not made this easy, but the recent increase in prices has helped a lot. As
stated in our Q4 report, our balance sheet had a negative capital of almost
$20,000,000 and we were in default of our banking covenants. The suggested
refinancing will be a huge improve and put us back on track to growth mode
again. “

Mr. Morch continued “We will also update market on drilling and development
shortly after the financing deal has been closed. We believe, recent
improvements in the oil price environment indicate that the worst is behind us,
and we feel more comfortable with our development program at these prices”.

Says Paul Morch, CEO

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.