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Sea Dragon Provides Egypt Operational Update

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Sea Dragon Energy Inc. (SDXX.V) today announced 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 9,000 bopd gross (900 bopd net to Sea Dragon). Currently producing wells include seven Al Amir SE wells, two Al Ola wells and three Geyad wells. Cumulative production from the NW Gemsa Concession has now exceeded 9.58 million barrels of 42 degree API Crude oil.

Water injection is ongoing with three injectors currently operating at Al Amir SE Field and two injectors at Geyad Field. Current total injection rates are approximately 14,700 barrels per day. Cumulative injection to date is 5.54 million barrels at Al Amir SE and 1.14 million barrels at Geyad.

Sea Dragon has a 10% working interest in the NW Gemsa Concession with Vegas at 50%, as operator and Circle Oil PLC with 40%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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