(Oslo, 27. July 2009) Aladdin Oil & Gas Company ASA (AOGC) has reactivated another well in their recent acquired license Nikiferovskoye. The well is producing about 50 barrels of oil per day.

Well #83 is the second well that has been reactivated in the Nikiferovskoye license, the first of total 5 licenses that were acquired by AOGC in April this year. The well is producing at a stable oil rate of about 50 barrels per day, bopd.

AOGC has already initiated work to reactivate the third well in this reactivation program of total 4 wells. With all 4 wells in production, by end of 3rd.Quarter this year, a total oil production of 200-300 bopd is expected.

Succeeding in this reactivation program will not only finance our operations in Orenburg, but also ensure development of our new production licenses in the area. Break-even to our operating expenses is equivalent oil production of about 200 bopd, at current oil price.

Booked proven+probable (2P SPE classification) reserves in Nikiferovskoye are about 7.6 million barrels of oil,

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.