DOME ENERGY COMMENCES DRILLING ON THE ORANGE FIELD

Dome Energy AB. (https://www.domeenergy.com) (Ticker:
DOME (http://www.nasdaq.com/symbol/els/dome)) herein after “Dome” and/or “the
Company”) is pleased to announce that on the 24th of December, commenced the
drilling of the Gulf Lee Hager Fee 37 well (GLHF #37) on the Orange field,
Texas.

Dome’s GLHF #37 well is the first of a potential series of wells on the Hager
lease. The well locations have been selected using data gathered from over 60
square miles of the Company’s seismic data coupled with the analysis of over 300
existing wells surrounding the acreage. To date, Dome has identified 12 new well
prospects and 20 recompletion targets.

The first well is targeting up to 17 productive zones from the Miocene and Frio
formations with the Total Depth (TD) of the well approximately 6,500 ft. Based
on records from analogue wells, Dome estimates 70,000-120,000 barrels of oil is
potentially recoverable from the well. The drilling program is projected to
increase total field production to 500 barrels of oil equivalent per day (boepd)
with production costs below $20 per barrel.

At present, the drilling rig is currently at ~2,100ft and is expected to
complete the drilling stage in the second half of January 2015. Typical initial
production rates is up to 100 boepd with crude selling at a premium to WTI.

Paul Morch, CEO commented; “We are excited to have the drilling operations
underway. With today’s oil price conditions, drilling new wells on fields like
Orange makes sense and has a much more favorable return on investment compared
with shale along with significantly lower production expenses.”

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

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.