SDX Energy Plc (SDXEF)

[COBFIRE]

North West Gemsa Production Peaks Over 10,000 BOPD



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

CALGARY, May 4, 2012 /CNW/ - Sea Dragon Energy Inc. ("Sea Dragon" or the "Company") (TSXV: SDX) is pleased to announce that with the placement of the Al Amir SE-11 ST-1 on stream, production from the North West Gemsa Concession has now reached a new high of 10,100 bopd (1,010 bopd net to Sea Dragon). The company also announces that drilling has commenced and is now progressing on Al Amir SE-12 and Al Baraka #16 wells.

NW GEMSA CONCESSION
This concession is located onshore on the west side of the Gulf of Suez, some 300 km southeast of Cairo. Two main oil fields are producing light oil, the Al Amir SE field along with the Al Ola extension to the south and the Geyad field to the north.

AASE-11 ST-1 Well: This development well was successfully completed in the Shagar Reservoir and placed on a five point multi-rate production test on April 24, 2012. The well flowed at a maximum rate of 3,500 bopd on a one inch choke. The well was shut-in for 72 hours build up and is now on stream, producing 1,635 bopd on a 32/64 inch choke.

AASE-12 Well: This development well, located in the south eastern area of the field was spud on April 25, 2012. The 13 3/8" casing was run and set at 1,985 feet and the well is now drilling below 3,560 feet. The primary objectives are the Shagar and Rahmi oil-bearing sands in the Kareem Formation and the secondary objectives are the shallower South Gharib and Belayim reservoirs. The well is targeted to reach a total depth of 9,800 feet in the Upper Rudeis Formation.

Current production from the Al Amir SE and Geyad fields is approximately 10,100 bopd (1010 bopd net to Sea Dragon). Cumulative production from the NW Gemsa Concession has now exceeded 7.9 million barrels of 42 degree API Crude oil.

Sea Dragon has a 10% working interest in the NW Gemsa Concession with Vegas at 50%, as operator and Circle Oil PLC with 40%.

KOM OMBO CONCESSION
This concession is located onshore in the southern part of Egypt some 1,000 km south of Cairo. It contains the Al Baraka oilfield, producing light oil from multiple reservoirs and an exploration area of 11,400 km².

Al Baraka-16 Well (AB-16): This well was spud on April 30, 2012 and is currently drilling below 2,270 feet. AB-16 well is to be drilled to a total depth of 7,700 feet into the basement to appraise the deeper Kom Ombo "A" sands in an up dip position to the ABSE-1 producer, 6 km to southeast. Oil was also recovered from the Kom Ombo-1 well, situated 2 km to the east. The secondary objective is in the Kom Ombo "C" sands that were found oil stained in wells previously drilled on the concession.

Success at AB-16 will open the Kom Ombo "A" and "C" sands play, as several follow up prospects and development locations adjacent to AB-16, have been identified.

West Al Baraka-2 Well: The West Al Baraka-2 (WAB-2), the second oil discovery on the Kom Ombo block is currently suspended awaiting hydraulic fracture stimulation, expected to be conducted by month end.

Current production from the Al Baraka field is averaging approximately 520 bopd (260 bopd net to Sea Dragon).

Sea Dragon has a 50% working interest and is a joint operator of the Kom Ombo Concession with Dana Gas owning the remaining 50%.

Certain statements contained in this press release constitute "forward-looking statements" as such term is used in applicable Canadian and US securities laws. These statements relate to analyses and other information that are based upon forecasts of future results, estimates of amounts not yet determinable and assumptions of management. In particular, statements concerning the development of the Al Baraka field and events or projections referenced or implied herein should be viewed as forward-looking statements.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, costs and timing of exploration and production development, availability of capital to fund exploration and production development; political, social and other risks inherent in carrying on business in a foreign jurisdiction, the effects of a recessionary economy and such other business risks as discussed herein and other publicly filed disclosure documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release.

Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.

This news release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. When used herein, words such as "intended" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on assumptions by and information available to the Company. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Actual results may differ materially from those currently anticipated. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE RELEASE.

Said Arrata
Chairman, CEO and Director
[phone]

Tony Anton
President, COO and Director
[phone]

Olivier Serra
Chief Financial Officer and Director
[phone]

Brisco Capital Partners Corp.
Investor Relations
[phone]