RNS Number:8191M
Dragon Oil PLC
26 June 2003



                                   DRAGON OIL

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



                                       AGM

Dragon Oil announces that at its Annual General Meeting held in London on
Thursday 26th June 2003, all resolutions were passed by the shareholders.

As a result, the Chairman Mr. Hussain M. Sultan and Director Mr. Jeremy Key were
reappointed. Mr. Key was reappointed as an Independent Non-Executive Director
after the withdrawal of his sponsorship by Emirates National Oil Company Limited
(ENOC) LLC.

Signing of Contract for a Jack Up Rig

Dragon Oil announces the signing of a contract for the provision of a jack up
rig from early November 2003, for a period of 8 months, to re-commence its
drilling programme in the Cheleken block, Turkmenistan. The contract for the
engineering and upgrade of LAM 21 platform is also in the final stages of being
concluded.

The jack up rig contract was concluded with LukOil Shelf Limited a company
within the LukOil Group of Companies.

Hussain M. Sultan, Chairman of Dragon Oil commented:

"This is a significant contract to be executed by Dragon Oil and we are
extremely pleased to have signed the contract with LukOil. The provision of a
jack up rig to continue drilling in our Turkmenistan field will ensure that we
are able to enhance production and build upon last year's achievements.

We are also in the final stages of concluding a contract for engineering and
upgrade of the LAM 21 platform, from which the next wells are to be drilled. The
plan to drill from LAM A has been deferred".



Enquiries:

Citigate Dewe Rogerson (+ 44 207 638 9571)

Martin Jackson



Davy Corporate Finance Limited (+ 353 1 679 6363)

Hugh McCutcheon



Dated : 26 June 2003




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