Sea Dragon Energy Inc.
TSX VENTURE : SDX

Sea Dragon Energy Inc.

March 24, 2010 16:18 ET

Sea Dragon Announces Filing of Amended Interim Financial Statements

CALGARY, ALBERTA--(Marketwire - March 24, 2010) -

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

Sea Dragon Energy Inc. ("Sea Dragon" or the "Company") (TSX VENTURE:SDX) announces that it has amended and re-filed its unaudited interim financial statements and management's discussion and analysis (the "Filings") for the interim period ended September 30, 2009. The Filings have been amended to revise the characterization of certain assets related to the East Wadi Araba Concession in Egypt, the timing and allocation of foreign exchange gains and losses and impairment of oil and gas properties. The net effect of the amendments to the Filings is an increase in the Corporation's net loss in the third quarter of 2009 in an amount of approximately $353,000.

Sea Dragon is an international exploration and development company with a focus on North African and Sub-Saharan Africa and an office in Cairo, Egypt.

For further information please see the website of the Company at www.seadragonenergy.com or the Company's filed documents at www.sedar.com.

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Sea Dragon Energy Inc.
    Said Arrata
    President, CEO and Director
    (403) 457-5035
    or
    Sea Dragon Energy Inc.
    David Thompson
    Senior Vice President and Director
    (403) 457-5035
    www.seadragon.ca
    or
    Brisco Capital Partners
    Scott Koyich
    President
    (403) 262-9888
    skoyich@briscocapital.com
    or
    Brisco Capital Partners
    Graeme Dick
    (403) 561-8989
    graeme@briscocapital.com