Sea Dragon Energy Inc.
255 - 5th Ave. SW
Calgary, AB, T2P 3G6,
Publicly listed on the Toronto Venture Exchange
CUSIP: 811375 10 4
Sea Dragon Energy (SDX-TSX.V) Sea Dragon is primarily focused on North Africa and Sub-Saharan Africa. Currently our activities are concentrated in Egypt, where we have interests in two large concessions with short- and long-term potential.
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Said Arrata P.Eng., served as Chairman and Chief Executive Officer of Centurion Energy International Inc. (Centurion Energy) until its purchase by Dana Gas, where he still serves as a board member of the corporation. Mr. Arrata built Centurion Energy into a billion dollar corporation, with a peak production of 40,000 boepd, operating internationally in Egypt, Tunisia and with holdings in Sao Tome Principe. During more than 40 years in the oil and gas industry, Mr. Arrata held management positions with major oil and gas companies in Canada and overseas.
Mr. Arrata received his bachelors of science at the Cairo University in 1964.
Mr. Arrata was founder and Chief Executive Officer of two major engineering firms as well as two oil and gas companies, operating in Canada and internationally for more than two decades.
email Mr. Arrata
Tony Anton P.Eng.
President and COO
Mr. Anton has over 40 years experience in the oil & gas industry and was the former Sr. Vice President of Centurion Energy International Inc. and COO in charge of operations in Egypt and Tunisia.
Tony has held key technical and managerial positions in the Canadian oil and gas sector, including BP Canada, Suncor Inc., Agip Canada Limited and Husky Oil.
Mr. Anton obtained his Bachelor's of Science Degree in Petroleum Engineering from the University of Cairo in 1966.
Mr. Anton is a Registered Professional Engineer in the Province of Alberta, a member of Society of Petroleum Engineers and a member, Fellow and Past President of the Canadian Institute of Mining, Metallurgy and Petroleum.
email Mr. Anton
Chief Financial Officer
Mr. Serra has 17 years of investment banking experience, primarily focused on the oil & gas industry. He was the former Group Head of the Europe, Middle East and Africa (EMEA) Oil and Gas Department of BNP Paribas. Mr. Serra advised Centurion Energy International Inc. from 2004 - 2006. He holds an MBA from Columbia University.
email Mr. Serra
Ahmed Farid Moaaz has over 30 years experience in the oil and gas industry. Mr. Moaaz was the Vice President, Operations of Trident Petroleum International, an international oil company until 2006, which currently operates in Egypt and has a joint venture with the EGPC operating a field in the Red Sea coast.
His background consists of supervising and directing drilling production and petroleum engineering as former Chairman El Wastani Petroleum Company, a joint venture between the Egyptian Natural Gas Holding Company and Centurion Energy. Mr. Moaaz was also a former Deputy Chairman for Production of EGPC where he was responsible for supervising and directing drilling production and petroleum engineering of all joint venture companies operating in Egypt. Mr. Moaaz was a director and has also supervised the operations of Suez Esso Petroleum Company. Mr. Moaaz has a B.Sc. in Petroleum Engineering from Cairo University (1971).
As Country Manager, Mr. Moaaz is responsible for Egyptian operations.
Mr. Zayat has over 40 years experience in the oil & gas industry. He was the former Vice-President Exploration and Business Development of Centurion Energy International Inc. Mike has held key positions with Mobil Oil in Canada and Internationally and consults on exploration and development strategies, mainly in the Middle East and North.
Our strategy also calls for gaining entry into other countries that offer significant potential and opportunities that would enhance the Company's growth within a reasonable timeframe. OPERATIONS
The NW Gemsa Concession ("NW Gemsa") is a 250 square kilometer onshore concession located approximately 300 kilometers south east of Cairo in the Eastern Desert. As at December 21, 2009, the Company acquired a ten (10%) percent participating interest in NW Gemsa with an effective date of July 1, 2009. The Company's partners in NW Gemsa are Vegas Oil and Gas (operator, 50% interest) and Circle Oil Plc (40% interest).
In October 2008, a discovery was announced on the Al Amir-SE1 well with 41º API oil tested at 3,388 bbls/d and 4.25 MMscfd of gas. In February 2009, a 20 year development lease was granted by the Egyptian government.
In May 2009, a further discovery was announced on Geyad-1X where two zones tested 40º API oil. The first zone tested 2,809 bbls/d with 3.04 MMscfd of gas and second, upper zone tested 1,174 bbls/d with 1.324 MMscfd of gas.
In March 2010, a further discovery was announced on the Al Amir 5-X well with 42º API oil tested at 6,150 bbls/d and 6.9 MMscfd of gas.
The Company and their partners are currently in the midst of a ten well development program in the Al-Amir SE and Geyad areas. Eight wells have been brought on production in NW Gemsa from these areas since February 2009. Two additional wells are scheduled to be drilled before the end of 2010. Current production is in excess of 9,000 bbls/d.
Additional plans for NW Gemsa include extending the boundaries of the field (currently drilling the Al Ola 1X well to test the southern extension of the field), develop the Al Amir heavy oil field (currently testing the historical heavy oil well discovery Al Amir 1X) and building facilities to strip the liquids from the gas production. In addition, secondary recovery techniques such as waterflooding will be studied to maintain pressure support and extend plateau production, in order to further increase reserves recovery.
In April 2010 Sea Dragon concluded the acquisition of a 50 percent working interest in the Kom Ombo Block 2 Concession ("Kom Ombo"), which is jointly operated with Dana Gas Egypt, a successor company to Centurion Energy. This large concession is located in Upper Egypt approximately 1,000 km south of Cairo and covers an area of 11,500 km2
Kom Ombo includes the Al Baraka field, discovered in 2007 by Centurion Energy. The field is producing from three productive zones (Abu Ballas, Six Hills E and F).
In 2010, four wells have been drilled into the Al Baraka field at approximately 4,500 feet. The field is currently producing approximately 1,300 bopd (650 bopd - net) of light, 37° API oil. Al Baraka 4, the most productive well in the field, encountered approximately 50 feet of oil pay in the previously defined reservoirs and 25 feet of oil pay in a new reservoir, the Six Hills E zone.
With only the northern third of the Al Baraka field having been drilled to date, significant development drilling is planned in 2010 to increase production. The full field development plan may require drilling approximately 30 wells over the next several years.
Sea Dragon intends to apply modern exploitation techniques, including specialized hydraulic fracturing, to maximize production rates and ultimate oil recovery from the Al Baraka field. The Company has designed a fracturing campaign to increase production rates in certain wells, starting in October. The next well planned for drilling is Al Baraka South East, which will appraise the field's southern extension. The company is also considering drilling an exploration well and 4 additional wells by the end of the year.
Kom Ombo holds significant longer-term exploration potential. The company has acquired 475 km of new 2D seismic that covers the main prospective part of the Kom Ombo Basin. Seismic processing and interpretation is ongoing with a view to selecting a drillable exploration prospect by the fourth Quarter of 2010.
The agreement opens up opportunities for Sea Dragon to select undeveloped properties with potential near term production. The Company's ability to build successful and lasting relationships is a hallmark of the Company and was critical to the successful agreement with TPC. This could result in the development of one or more fields that would add to Sea Dragon's reserves and production in Egypt.
Sea Dragon has a 10% working interest in the NW Gemsa Concession with Vegas at 50%, as operator, and Circle Oil PLC with 40%.
Sea Dragon has a 50% working Interest and is a joint operator of the Kom Ombo Concession with Dana Gas owning the remaining 50%. http://www.danagas.com/en