CALGARY, ALBERTA--(Marketwire - March 24, 2010) -

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

Sea Dragon Energy Inc. ("Sea Dragon" or the "Company") (TSX VENTURE:SDX) announces that it has amended and re-filed its unaudited interim financial statements and management's discussion and analysis (the "Filings") for the interim period ended September 30, 2009. The Filings have been amended to revise the characterization of certain assets related to the East Wadi Araba Concession in Egypt, the timing and allocation of foreign exchange gains and losses and impairment of oil and gas properties. The net effect of the amendments to the Filings is an increase in the Corporation's net loss in the third quarter of 2009 in an amount of approximately $353,000.

Sea Dragon is an international exploration and development company with a focus on North African and Sub-Saharan Africa and an office in Cairo, Egypt.

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