Dragon Oil Updates on Cheleken Drilling Rigs

Dragon Oil plc, an international oil and gas exploration, development and production company, today publishes an update on the status of the drilling rigs in the Cheleken Contract Area in Turkmenistan.

The Neptune jack-up drilling rig has arrived to the Cheleken Contract Area and is being prepared for spudding the Dzhygalybeg (Zhdanov) 21/101 well in mid-January 2014. The rig will be available for nine months and then released. In its place Dragon expects to take delivery of the Mercury jack-up drilling rig, which is scheduled to arrive into the Caspian Sea in 4Q 2014 and will be available for the remainder of the three-year contract term.

The leased platform-based rig (“Land Rig 1”) has completed scheduled maintenance and is expected to start drilling on the Dzheitune (Lam) 22 platform in January 2014.

The contracted platform-based rig (“Land Rig 2”) for drilling on the Dzhygalybeg (Zhdanov) A platform has arrived to the Cheleken Contract Area and is being prepared to start drilling the Dzhygalybeg (Zhdanov) A/102 appraisal/development well in February 2014.

The arrival of the Caspian Driller jack-up rig is expected in mid-2014 due to further delays on the contractor’s side.

The contracted platform based rig (“Land Rig 3”) is expected to arrive in 4Q 2014.

The jack-up drilling rig is currently completing the Dzheitune (Lam) C/186 development well.

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Press Release, December 19, 2013