Abu Dhabi, UAE - February 16th, 2012: Dolphin Energy Limited today announced that it has successfully issued US$1.3bn of ten-year senior secured bullet bonds. The initial US$1bn bond was priced on Tuesday February 7, 2012 with an additional US$300m tap bond priced on Thursday February 9, 2012 due to strong investor demand.  The two issues of bonds will be fully fungible, carry a coupon of 5.5% and mature on 15 December 2021.

The US$1bn transaction priced at par. The US$300m transaction was priced at a 5.34% yield on the back of a 101.25% bond price. The US$1.3bn bonds have received an A+ rating from Fitch and an A1 rating from Moody's, both with stable outlook.

Dolphin Energy CEO, Ahmed Ali Al Sayegh, said, "As a result of strong investor demand, we decided to increase the size by another US$300m. We were able to attract strong demand and price our bonds at the tight end, despite the current volatile markets."

Al Sayegh added, "The level of initial demand and the performance of the bonds in the secondary market demonstrate the great job our staff and sponsors have done in telling Dolphin Energy's story to investors.  The capital markets recognize the strength of the business and appreciate our high credit quality and increased transparency."

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Important Regulatory Notice
This announcement is not an offer of securities for sale in the United States.  Securities may not be sold in the United States unless they are registered or are exempt from registration.  Dolphin Energy Limited does not intend to register any portion of this offering in the United States or to conduct a public offering in the United States.  Any public offering of securities to be made in the United States will be made by means of a prospectus that will contain detailed information about Dolphin Energy Limited and its management, as well as financial statements.  Copies of this announcement are not being, and should not be, distributed in or sent into the United States.

It may be unlawful to distribute these materials in certain jurisdictions.  These materials are not for distribution in Canada, Japan or Australia.  The information in these materials does not constitute an offer of securities for sale in Canada, Japan or Australia.

Dolphin Energy Limited
Dolphin Energy Limited was created to develop substantial energy projects throughout the GCC and to create long-term economic wealth and new business opportunities for GCC citizens, far into the future.

Dolphin Energy's major strategic initiative, the Dolphin Project, involves the production and processing of natural gas from Qatar's North Field, and transportation of the dry gas by sub-sea export pipeline from Qatar to the UAE, which began in July 2007.

The long term customers for Dolphin gas are ADWEC (Abu Dhabi Water & Electricity Company), DUSUP (Dubai Supply Authority) and OOC (Oman Oil Company). Each has signed a gas supply agreement with Dolphin Energy for 25 years.

Dolphin Energy is owned 51 percent by Mubadala Development Company, on behalf of the Government of Abu Dhabi - and 24.5 percent each by Total of France and Occidental Petroleum of the USA.

Detailed information about Dolphin Energy can be found on: www.dolphinenergy.com

© Press Release 2012