Sea Dragon Announces Positive Drilling Results in Egypt

NOT FOR DISTRIBUTION TO U.S NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES

Sea Dragon Energy Inc. ("Sea Dragon") (TSX VENTURE:SDX), is pleased to provide
the following update on its drilling operations in Egypt.


Kom Ombo Block 2: 

The Al Baraka #6 well was drilled to a total depth of 5,035 feet in the Six
Hills Formation. An extensive coring and logging program was carried out on this
well being the first of the company's ten well program for 2010. A total of nine
cores (600 feet) were cut which will be analyzed for geological and engineering
data to help in the design of an expected fracturing programme of existing
producers and future wells in the Al Baraka Field.


Preliminary analyses of the cores indicate oil saturations in the Abu Ballas and
Six Hills "F" formations. Net pays are estimated at 30 feet for the Abu Ballas
Formation and 75 feet in the Six Hills "F" Formation. The estimated pay in the
Six Hills "F" formation show significant thickening and contain two zones, the
upper zone shows a lateral communication with al Baraka 2 while the lower is a
new zone. Completion and testing operations will now be carried out on the Six
Hills "F" lower zone pending the mobilization of fracturing and testing
equipment. The Six Hills "E" sands appear to be absent in this well. 


The drilling rig will now move to the Al Baraka#5 location expected to spud
before the end of June.


Sea Dragon has a 50% working interest in the Kom Ombo Concession which it is
jointly operated with Dana Gas Egypt.


NW Gemsa: 

The Al Amir SE#6 well has reached its final depth of 13,900 ft. in the Lower
Rudeis Formation. The well was logged, cased and is currently undergoing
completion and testing operations. The primary targets being the Upper Shagar
and Lower Rahmi sands in the Kareem Formation were found oil bearing with net
pays of 30 feet and 24 feet respectively. Additionally, Petrophysical analysis
of the deeper Lower Rudeis Formation shows an 8 foot net pay section and a
substantial amount of gas, which will be perforated and flow tested for
pressures and fluid content. This will provide further analysis to determine if
the Nubia sands have hydrocarbon potential and if another well is merited to
drill down to the Nubia zone.


As reported earlier, once testing operations are completed in the Lower Rudeis
Formation, the well is planned to be plugged back and completed in the Kareem
Shagar formation as an additional producer.


Sea Dragon has a 10% working interest in the NW Gemsa Concession, Vegas Oil and
Gas, operator holds a 50% working interest and Circle Oil Plc 40% working
Interest.


For further information please see the website of the Company at
www.seadragonenergy.com or the Company's filed documents at www.sedar.com.


Certain statements contained in this press release constitute "forward-looking
statements" as such term is used in applicable Canadian and US securities laws.
These statements relate to analyses and other information that are based upon
forecasts of future results, estimates of amounts not yet determinable and
assumptions of management. In particular, statements concerning the development
of the Al Baraka field and exploration of the Kom Ombo Concession and events or
projections referenced or implied herein should be viewed as forward-looking
statements.  


Any statements that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions or future
events or are not statements of historical fact and should be viewed as
"forward-looking statements". Such forward looking statements involve known and
unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Corporation to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such risks and other factors
include, among others, costs and timing of exploration and production
development, availability of capital to fund exploration and production
development; political, social and other risks inherent in carrying on business
in a foreign jurisdiction, the effects of a recessionary economy and such other
business risks as discussed herein and other publicly filed disclosure
documents. Although the Corporation has attempted to identify important factors
that could cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other factors that
cause actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be
accurate as actual results and future events could vary or differ materially
from those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements contained in this news release. 


Forward-looking statements are made based on management's beliefs, estimates and
opinions on the date the statements are made and the Corporation undertakes no
obligation to update forward-looking statements and if these beliefs, estimates
and opinions or other circumstances should change, except as required by
applicable law. 


This news release contains forward-looking statements based on assumptions,
uncertainties and management's best estimates of future events. When used
herein, words such as "intended" and similar expressions are intended to
identify forward-looking statements. Forward-looking statements are based on
assumptions by and information available to the Corporation. Investors are
cautioned that such forward-looking statements involve risks and uncertainties.
Actual results may differ materially from those currently anticipated. The
forward-looking statements contained herein are expressly qualified by this
cautionary statement. 


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE RELEASE.