Dundee Energy Limited Announces Appointment of Director

TORONTO, ONTARIO--(Marketwire - Sept. 26, 2011) - Dundee Energy Limited (TSX:DEN) ("Dundee Energy") and its Board of Directors (the "Board") are pleased to announce the appointment of John F. Cowan to its Board.

Ned Goodman, Chairman of Dundee Energy states "It is with great pleasure that I welcome John Cowan to our Dundee Energy Board. He has vast experience in the Ontario oil and gas industry both with Torque Energy Inc. and previous companies where I have been on the board."

Mr. Cowan graduated from the University of Western Ontario with a Bachelors Degree in Geology in 1977 and has over 30 years of experience in the oil and gas industry in Canada. Mr. Cowan has been a member of the American Association of Petroleum Geologists since 1979, a 25 year member and past President of the Ontario Petroleum Institute, and is the co-author of a research paper presented by the Geological Survey of Canada. Mr. Cowan is a director of a number of private and public companies.

ABOUT THE CORPORATION

Dundee Energy Limited (formerly "Eurogas Corporation") is a Canadian-based company whose common shares currently trade on the Toronto Stock Exchange under the symbol "DEN" (formerly "EUG"). The Corporation is focused on creating long-term value for its shareholders through the development and acquisition of high-impact energy projects. Dundee Energy holds interests, both directly and indirectly, in the largest accumulation of producing oil and gas assets in Ontario, in the development of an offshore underground natural gas storage facility in Spain and, through a preferred share investment, in certain exploration and evaluation programs for oil and natural gas offshore of Tunisia.