Dragon Oil

Dragon Oil plc is engaged in exploration, development and production of oil and gas in Turkmenistan, Yemen and Tunisia. The Company holds a 100% interest in the Cheleken Contract Area, offshore Turkmenistan. The Cheleken Contract Area covers approximately 950 square kilometers (235,000 acres) and comprises two offshore oil and gas fields, Dzheitune (Lam) and Dzhygalybeg (Zhdanov). As of 31 December 2011, the contract area contained oil and condensate 2P reserves of 658 million barrels and contingent resources of 88 million barrels, 1.5 trillion cubic feet of 2P gas reserves and 1.4 trillion cubic feet of gas contingent resources. During the year ended December 31, 2011, it completed 13 wells, and installed a third wellhead and production platform, the Dzheitune (Lam) C. In October 2011, Dragon Oil signed a farm-in agreement with a wholly owned subsidiary of Cooper Energy Limited for a 55% participating interest in the Bargou Exploration Permit, offshore Tunisia.