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.

Discovery well 7A in the MS license has not yet been sufficient tested with proper analysis and capacity calculations, so called long-term tested. Testing is planned this winter when we have access to the site. Well 7A discovered gas in the same main reservoir as in well 14A in the adjacent structure. Reserves calculations based on information from the well and available seismic on the structure is 2P reserves of 383 MMm3 (2.36 MMboe).

Total gas reserves of more than 1000 MMm3, in structure/fields 1, 7 og 14 are the basis for the start-up of our gas field in the MS license. Gas from structure 7 and 14 will be connected with existing gas facilities. The company will launch a drilling program this winter in adjacent gas structures to secure substantial gas deliveries to komiRegionGaz in the Uktha region.

This underlines that the license contains considerable amount of gas and fullfills our expectations for further development and increased gas reserves from the adjacent gas structures, quotes managing director, Pål Nedrelid.

For more information, please contact:
Managing Director Pål Nedrelid (+47 906 08 168)

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.