24th May 2005 15:21
Dragon Oil PLC24 May 2005 PRESS RELEASE DRAGON OIL plc Dragon Oil plc ("Dragon" or the "Company") Dragon notes the recent press statement from its largest shareholder, EmiratesNational Oil Company Limited (ENOC) LLC ("ENOC"), the text of which isreproduced below. In addition, Dragon confirms that it has not received any approach that may leadto an offer being made for the Company. ENOC DENIES DEAL WITH LUKOIL ON DRAGON OIL SALE Dubai-headquartered Emirates National Oil Company Ltd (ENOC) LLC has totallyrefuted a Russian media report that it is in talks with oil giant LUKOIL to sellany of its holding in Dragon Oil Plc, the Irish independent oil and gasexploration and production company listed on both the London and Dublin stockexchanges in which ENOC holds an equity majority of 52%. The wholly-owned Government of Dubai ENOC Group has also confirmed that it doesnot have a representative named Mr Kumar I., who is reported in the Russiandaily Vedomosti as disclosing an alleged deal between ENOC and LUKOIL. "There is absolutely no truth in the report," said Hussain Sultan, Group ChiefExecutive and Board Member of ENOC. "Emirates National Oil Company remains themajority shareholder in Dragon Oil Plc and has not divested any part of itsequity and is not in talks with LUKOIL to sell its shares in Dragon Oil Plc." Ends Contacts: Citigate Dewe Rogerson (+44 207 638 9571)Martin JacksonGeorge Cazenove Dated 24th May 2005 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
DGO.L