CALGARY, ALBERTA--(Marketwire - May 10, 2010) -
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 announce that it has spudded Al Baraka #6 well in the Al Baraka Field, Kom Ombo Concession, Egypt.
The Egyptian Chinese Drilling Company (ECDC) rig # 1 which has been contracted to drill up to 10 wells in the Al Baraka field spudded the first well at on May 8th 2010. ECDC rig #1 is a 1000HP drilling rig equipped with a top drive and is rated to 10,500 feet and therefore capable of drilling and evaluating the Kom Ombo Basin entire geological section. Al Baraka #6, Sea Dragon's first appraisal well is proposed to drill up to 5,200 ft depth targeting the Abu Ballas and Six Hills "F" and "E" zones. An extensive coring and logging program is planned to adequately evaluate all the potential reservoirs. Once drilling operations at Al Baraka #6 well are completed the rig will move to Al Baraka #5 well located some 2 km to the northwest.
In NW Gemsa, Al Amir # 6x, the 7 inch casing was set at 11,084 ft. Drilling has resumed and the well has now reached a depth of 11,777 ft in the Lower Rudeis Zone. The plan is to drill and evaluate the Nubia Zone.
Mr. Said Arrata, CEO said: "We are delighted to commence our drilling programme in Kom Ombo. The Al Baraka #6 well is the first of up to 10 appraisal wells planned to be drilled this year. We are also moving ahead with our planned seismic acquisition programme expected to commence later this 2nd quarter. Further, results from drilling Al Amir 6X in NW Gemsa are expected soon".
For further information please see the website of the Company at www.seadragon.ca or the Company's filed documents at www.sedar.com.
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading Risk Factors and elsewhere in the Company's filings with Canadian securities regulators. Specifically that there is no assurance that any hydrocarbon reserves will be discovered nor is there any assurance that any hydrocarbons encountered will be in commercially recoverable quantities. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and expect as may be required by applicable securities laws.
Sea Dragon is an international exploration and development company with a focus on the Middle East and an office in Cairo Egypt.The TSX.V Venture Exchange has neither approved nor disapproved of the information contained herein. The TSX.V Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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