Transaction in Own Shares

24 October 2011

Dragon Oil plc ("Dragon Oil")

Transaction in Own Shares

Further to the announcement on 26 September 2011 of the commencement of a limited share buy-back programme to meet all relevant obligations arising from the Company's various share schemes, Dragon Oil announces that on 21 October 2011 it purchased for cancellation 59,447 of its ordinary shares pursuant to the irrevocable arrangement (without Company discretion) that it entered into with Nomura International plc and J&E Davy on 25 September 2011. The highest price paid was 505.00 GB pence and the lowest price paid was 494.00 GB pence. Following the above purchase, Dragon Oil will have 511,540,815 ordinary shares in issue.

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