Dividend Exchange Rate

17 April 2013

Dragon Oil plc ("Dragon Oil" or the "Company")

Notice of dividend currency exchange rates - 2012 final dividend

On 12 February 2013, Dragon Oil announced a 2012 final dividend of 15 US cents per share. Shareholders (other than shareholders holding their shares within CREST) with registered addresses in the UK are to be paid their dividends in pounds sterling. Those with registered addresses in European countries, which have adopted the euro, are to be paid in euro. Shareholders with registered addresses in all other countries are to be paid in US dollars. Shareholders were, however, given the option to elect to be paid their dividends in a currency other than their default currency, and were given a choice of US dollars, euro or pounds sterling provided such election was received by the Company's registrars by 5 April 2013.

The exchange rate for the pound sterling or euro amounts payable was determined by reference to the exchange rates applicable to the US dollar on the closest practicable date, being 17 April 2013, to the dividend payment date.

The following table details the currency exchange rates applicable for the 2012 final dividend:

Dividend 15 US cents per share

Exchange Rate

1 USD = 0.7588 EUR

1 USD = 0.6516 GBP

The final dividend of 15 US cents is subject to shareholder approval at the Annual General Meeting to be held in London, UK on 30 April 2013. If approved, the final dividend of 15 US cents is to be paid on 3 May 2013 to shareholders on the register as of 5 April 2013.