Holding(s) in Company

To:

Dragon Oil (the "Company")

6th Floor, South Bank House

Barrow Street

Dublin 4

Ireland

Name of person, body corporate, firm etc. having the notifiable interest ("Notifier")

Baillie Gifford & Co and Baillie Gifford Overseas Limited as discretionary managers for clients

Address of the Notifier

Calton Square, 1 Greenside Row, Edinburgh, Scotland, EH1 3AN

Date of this notice

11 June 2015

Notifiable event ("Event")

Purchase of Ordinary Shares

Date of Event

9 June 2015

No. of shares in which interested immediately before the Event

No.

Class

32,698,026

Ordinary Shares

No. of shares in which interested immediately following the Event

35,208,655

Ordinary Shares

Details of each registered holder of the shares if different from the Notifier

No. of shares before the Event

No. of shares after the Event

Name and address of registered holder

Baillie Gifford & Co (BG&Co) is a Scottish Partnership and is the ultimate parent of a group of companies. Baillie Gifford Overseas Limited (BGO) is a wholly owned subsdiary of BG&Co. Both companies are investment managers who act under discretionary investment management agreements for their clients.

The address for BG&Co and BGO is Calton Square, 1 Greenside Row, Edinburgh, Scotland, EH1 3AN.

Does the notifiable interest arise from an agreement referred to in Section 1055 of the Companies Act 2014 of Ireland? (if yes, provide names and addressed of the parties to the agreement, the number of shares each party is interest in individually and the registered holder of such shares if different.)

No