Sea Dragon Energy (SDX-TSX.V) Sea Dragon is primarily focused on North Africa and Sub-Saharan Africa. Currently our activities are concentrated in Egypt, where we have interests in two large concessions with short- and long-term potential.

Our strategy also calls for gaining entry into other countries that offer significant potential and opportunities that would enhance the Company's growth within a reasonable timeframe.

We intend to create shareholder value through significant and rapid growth in production volumes, cash flow and earnings. We obtained interests in two major concessions within the space of a few months in 2009 which were clearly accretive to shareholder value. Our efforts will focus on adding reserves through exploration, field development and reservoir management, on growing our production and on achieving continuous improvements. The goal of these activities is to drive growth, promote cash flow and, in turn, increase Sea Dragon's share price.

On April 19, 2010 Sea Dragon closed a bought-deal financing with a syndicate of underwriters, raising gross proceeds of $57 million. This financed the remaining portion of our acquisition of a 50 percent interest in the Kom Ombo Concession, and the balance provides working capital for this year's drilling and other field activities. Should a further opportunity arise that requires additional capital, we would have to evaluate it and determine how best to finance the acquisition while minimizing dilution.

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