Sea Dragon Awaits Arrival of Rig at Dahab North Prospect

Sea Dragon Energy Inc. announced that the Transocean 103 Rig is nearing its Dahab North prospect and expects to be on location within 24 hours.

"We are pleased to announce the Transocean 103 rig is very close to our Dahab North prospect and expect to be on location within 24 hours," stated David Thompson, Sea Dragon's president and chief executive officer. Mr. Thompson continued, "shipping lanes and weather have been favorable with respect to towing the rig to our first prospect."

Sea Dragon is an international exploration and development company with oil and gas interests in the Gulf of Suez, Egypt. The Company holds a 75% working interest in the East Wadi Araba Concession pursuant to the deed of assignment awarded by the Arab Republic of Egypt and Egyptian General Petroleum Corporation for the purposes of the exploration and exploitation of petroleum.

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