Dome Energy AB. Executes Agreement for the 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 a Heads of Agreement with PEDEVCO
Corp. (http://www.pacificenergydevelopment.com/) d/b/a Pacific Energy
Development (NYSE: PED (http://www.nasdaq.com/symbol/ped)) for the proposed 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 140 million
shares of PEDEVCO common stock, representing ~64% of the total shares in the
newly merged entity containing both Companies assets. The offer is equal to
1,060 million SEK based on the closing share price of PEDEVCO and the current
exchange rate.

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 in May.

Dome Energy Inc. management is expected to join executive positions in the new
entity to assist in the ongoing development and growth of the merged Company.
Once the deal is closed, the combined assets are projected to have production of
~3,300 boepd, from ~300 wells. The majority of Dome’s long-life assets have
production hedges in place until the end of 2016/2017 for oil and gas
respectively.

The significant positive cashflow generated from the Company together with the
lending Bank’s indicative commitment to increase low-interest asset backed
financing, will enable the Company to grow organically through the development
of the asset base to reach a target goal in excess of 10,000 boepd.

PEDEVCO announced that it has closed a transaction that doubles their cashflow
and reserves. This increase in production and reserves has been an integral part
for Dome to merge the two Companies and expects to complete the transaction by
June 2015, latest September 30, 2015.

Final terms will be presented in good time prior to the Annual General Meeting
and is contingent to Board approval, Shareholder approval and completion of due
diligence from both Companies.

Chief Executive Officer, Paul Morch stated: “I´m immensely proud and excited
that we are joining forces with PEDEVCO. We have actively been searching for
scalable shale assets to complement our existing portfolio. In PEDEVCO we have
found a Company that has large prime Niobrara acreage in Wattenberg, Colorado.
This is one of the most attractive basins onshore US, due to the good economics
at lower oil prices. With a combined portfolio of diversified assets and
scalable production, we will be able to continue to create shareholder value in
this price environment and thrive in better oil economics."

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.

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

Pedevco Press Release: http://www.marketwired.com/press-release/pacific-energy
-development-announces-entry-into-three-major-agreements-that-strengthen-nyse
-mkt-ped-1994654.htm