Double Eagle Petroleum Declares Cash Dividend

Double Eagle Petroleum has declared a cash dividend on its 9.25% Series A Cumulative Preferred Stock in the amount of $0.578125 per share, payable on March 31, 2010 to shareholders of record as of March 18, 2010. The Series A Preferred Stock was issued on July 5, 2007 and trades on the NASDAQ Capital Market under the symbol "DBLEP."