Drilling and Production Update

16 April 2015

DRAGON OIL PLC

(the "Company" or together with its subsidiaries "Dragon Oil" or the "Group")

Drilling and Production Update

· Average gross production of approximately 88,700 barrels of oil per day (bopd) in 1Q 2015, a 23% increase over the corresponding 2014 level;

· Average gross production of approximately 89,600 bopd in March 2015;

· Average gross production since the beginning of April of just above 93,000 bopd.

Dragon Oil plc (Ticker: DGO), an international oil and gas exploration, development and production company, today publishes an update on the drilling activity in the Cheleken Contract Area, Turkmenistan, and production numbers for 1Q and March 2015.

Turkmenistan

Since the previous quarterly drilling update published on 14 January 2015, Dragon Oil has completed and tested the following wells in the Dzheitune (Lam) field:

The Neptune rig is currently sidetracking the Dzheitune (Lam) C/184 well. The Elima jack-up rig is drilling the Dzheitune (Lam) B/202 well. Land Rig 2 is currently sidetracking the Dzhygalybeg (Zhdanov) A/102 well following an equipment failure in the well.

The Caspian Driller is expected to commence operations later in 2Q 2015.

Production

The average gross field production in the Cheleken Contract Area for 1Q 2015 was approximately 88,700 bopd (1Q 2014: 72,300 bopd), representing an increase of 23% over the corresponding period in 2014. The average production was approximately 89,600 bopd (March 2014: 73,400 bopd) for March 2015 and has increased to just above 93,000 bopd since the beginning of April. In 1Q 2015, Dragon Oil performed a number of additional perforations in the existing wells and at the end of the first quarter we commissioned an additional infield pipeline from the Dzheitune (Lam) B platform to Block 1 improving the throughput capacity of the Dzheitune (Lam) West area.

The Interim Management Statement is due for publication on 21 April 2015.

- end -

For further information please contact:

Investor and analyst enquiries

Dragon Oil plc (+44 (0)20 7647 7804)

Anna Gavrilova

Media enquiries

Citigate Dewe Rogerson (+44 (0)20 7638 9571)

Martin Jackson

About Dragon Oil

Dragon Oil plc is an international oil and gas exploration, development and production company, quoted on the London and Irish Stock exchanges (Ticker symbol: DGO). Its principal producing asset is in the Cheleken Contract Area, in the eastern section of the Caspian Sea, offshore Turkmenistan.

Dragon Oil (Turkmenistan) Ltd., a wholly owned subsidiary of Dragon Oil plc, holds 100% interest in, and is the operator of, the Production Sharing Agreement for the Cheleken Contract Area. The operational focus is on the re-development of two oil and gas producing fields, Dzheitune (Lam) and Dzhygalybeg (Zhdanov).

The Group has exploration blocks in Iraq, Algeria, Afghanistan, Egypt, Tunisia and the Philippines. Dragon Oil's diversification strategy is to add exploration and production assets within Africa, parts of Asia and the Middle East in order to create a diversified and balanced portfolio of assets for the Group.

www.dragonoil.com

Disclaimer

This news release may contain forward-looking statements concerning the financial condition and results of operations of Dragon Oil. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. No assurances can be given as to future results, levels of activity and achievements and actual results, levels of activity and achievements may differ materially from those expressed or implied by any forward-looking statements contained in this report. Dragon Oil does not undertake any obligation to update publicly or revise any forward-looking statement as a result of new information, future events or other information.