Kom Ombo May 2011 Operational Update

Sea Dragon Energy Inc. is pleased to provide the following update on its operations in Kom Ombo Concession, Egypt.

Geological, geophysical and engineering work and studies are continuing. The work includes a remapping of the Al Baraka field and exploratory prospects. This work will be complemented by the results of other geotechnical studies now underway to firm up locations for the two exploratory wells and AB-17, AB-18 and AB-19 development wells planned for the fourth quarter, 2011.

Production from the Al Baraka field is approximately 800 bopd (400 bopd net to Sea Dragon). Sea Dragon has a 50% working Interest and is a joint operator of the Kom Ombo Concession with Dana Gas owning the remaining 50%.

Commenting on the latest developments on the Company’s operations in Egypt, Company Chairman and CEO Mr. Said Arrata stated “The success of our development drilling and delineation work in both Al Amir SE and Geyad fields in our NW Gemsa Concession is most gratifying. We are looking forward to the commencement of the water flood project and the resulting increase in production. In Kom Ombo, detailed geotechnical work is well underway in preparation for the fall drilling season”.

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