Dragon Oil Appoints CFO

Dragon Oil has appointed Gautam Sashittal as Chief Financial Officer with effect from September 10, 2006. Gautam, 48, is a registered Chartered Accountant and has extensive experience within the oil and gas industry. He joins us from Royal Dutch Shell plc where he acted in several roles, latterly as the Head of Internal Reporting for the Royal Dutch Shell Group in London.

Hussain M. Sultan, Chairman and CEO of Dragon commented:
'I would like to welcome Gautam on board and greatly look forward to working with him. His experience speaks for itself and this is a further indication that Dragon is looking to hire people of the highest caliber to meet the challenges of the future.'