Sea Dragon Energy Inc. announces the Al Amir SE 18 development well has encountered significant oil bearing reservoir section in the Kareem formation and will be completed as a producer. The Shehab-2 exploration well successfully reached TD, encountering potential gas bearing sands in the Rudeis formation and water wet intervals in the Kareem horizon. Subsequent production tests failed to flow to surface and the well will be temporarily abandoned pending further evaluation.

Al Amir SE-18 Well:

Al Amir SE-18 (AASE-18) was drilled to a depth of 10,400 feet where both the Shagar and Rahmi oil reservoirs were encountered. Log analysis indicates 34 feet of net Shagar oil pay and 32 feet of net Rahmi oil pay. The well was originally drilled as a proposed injector but the structure was encountered 200 ft. high to the original prognosis with the encountered intervals being also thicker and better quality than the most recently AASE-17 well. The AASE-17 well flow tested 3,664 BOPD from a 12 net foot interval in the Shagar as reported on June 21, 2013. The AASE-18 will be completed in the Rahmi as a producer with the well being tested prior to being put on production. The results of this flow test will be reported in a future announcement.

Tags: Sea Dragon Energy Inc.