Sea Dragon Energy Inc. provide the following operational update for its recent work program in Egypt.

NW GEMSA CONCESSION

The NW Gemsa concession is located onshore on the west side of the Gulf of Suez, some 300 km southeast of Cairo. Two main oil fields are producing light oil, the Al Amir SE field along with the Al Ola extension to the south and the Geyad field to the north.

Current production from the Al Amir SE and Geyad fields is approximately 9,555 bopd gross (955 bopd net to Sea Dragon). Currently producing wells include eight at Al Amir SE field, two at Al Ola and four at Geyad. Cumulative production from the NW Gemsa Concession has now exceeded 9.82 million barrels of 42 degree API Crude oil.

Water injection is ongoing with three injectors currently operating at Al Amir SE Field and one injector at Geyad Field. Current total injection rates are approximately 18,000 barrels per day. Cumulative injection to date is 5.87 million barrels at Al Amir SE and 1.21 million barrels at Geyad.

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