(Oslo, 17th December 2009) Aladdin Oil & Gas Company ASA (AOGC) has signed an agreement with Schlumberger to complete a well stimulation program in Orenburg.

AOGC has agreed a well stimulation programme with Schlumberger for 3 of the Veselovskoye wells; #61, #83 og #91 in Orenburg. The plan is to frac all 3 wells, and well #83 is being prepared for stimulation at the moment. It is expected that the stimulation program on well #83 is completed by late December.

It is expected that the total production from these 3 wells will increase from 300 bopd today to more than 600 bopd. Schlumberger will use a directionally controlled propane-frac technology, to reduce the risk and optimize the effect of the fraccing.

For further information, please contact:
COO Espen Glende (+47 906 05 434)

Aladdin Oil & Gas Company ASA is a Norwegian based exploration and production company, head quartered in Oslo, with its shares traded on the OTC list under the ticker code AOGC. The company owns the Russian oil company OOO Geotechnologia which holds two licenses in the Timan-Pechora province in Northwest Russia, as well as 6 licenses through our companies ZAO Orneftegaz and OOO Veselovskoye in the Orenburg area