Sea Dragon Energy (SDX-TSX.V) (“Sea Dragon” or  “Company”) is focused on acquiring interests with significant upside potential in discovered, under developed oil and gas assets.  On August 14, 2009 the Company entered into a Sale and Purchase Agreement with Premier Oil Overseas BV pursuant to which the Company will acquire the entire issued capital of Premier Egypt (NW Gemsa) BV.  The acquisition will give the Company a 10% working interest in the NW Gemsa Concession, Eastern Desert, Egypt which includes development and exploration rights. The acquisition is subject to the approval of the Egyptian Government. 

The Company plans to expand its oil and gas assets through further acquisitions of low risk development opportunities primarily in North Africa concentrating on locations in Egypt where it believes it can take advantage of its knowledge of the industry and where a low cost environment is expected to help deliver operating profits and positive operating cash flows.

The company will also look at other opportunities globally where it can leverage from prior experience.

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