OOO Geotechnologia, a fully owned subsidiary of Aladdin Oil & Gas Company ASA, has now completed the gas production facility on structure #1 on the MS license. The production wells have now been connected to the facility.
Aladdin Oil & Gas Company ASA increases their oil production in Orenburg. Current work program will result in daily production of about 1000 to 1500 barrel of oil per day (bopd) at the end of second quarter 2010.
Aladdin Oil & Gas Company ASA increases their gas reserves in Middle Sediolskoye (MS) license based on discovery well 7A drilled earlier this year and proved gas in the main reservoir.
Aladdin Oil & Gas Company ASA (AOGC) has signed a gas sales contract with KomiRegionGaz, a GazProm company. This contract will secure gas off-take from our gas field in the Middle Sediolskaya license in the Komi region in Ukhta.
Aladdin Oil & Gas Company ASA has raised NOK 9 million in equity as announced in the Extraordinary shareholder's meeting 25th.August. The share price for the capital increase was NOK 0,50 per share.
Aladdin Oil & Gas Company ASA can inform that the company has signed an agreement with Renaissance Capital with the objective to raise sufficient capital to secure further development of the company.
Jørn Barkenæs is from today Aladdin Oil & Gas Company ASA's new CFO. Mr. Barkenæs has long experience from Norwegian companies with activities in Russia.
Aladdin Oil & Gas Company ASA finished an extensive multi rate test on production well 1C in the MS license on the gas field scheduled for production-start in September 2009. The well proves sufficient production capacity and commercial gas rates.
