Aladdin Oil & Gas Company ASA has launched its 2011 work program

Orenburg

AOGC has started seismic surveys on the Veselovskoye license in Orenburg which is scheduled to be completed in February.  The interpretation is expected to be ready during Q2.

A rig is being sourced for workovers on Veselovskoye license well numbers 35, 54, 56 and for sidetracks of wells 304 Besedinskoye and 96 Voinskoye. The sidetracks are subject to the results of VSP’s which are being carried out to define the structures.

The production from the Nikiforovskoye oil field continues from wells 61 & 91 at a rate about 150 bopd.

Ukhta

In Ukhta well 1E is expected to be spudded on the gas field shortly.  The rig is on location and  final preparations and quality control are being carried out. The well design has been changed to improve performance.

A 200km 2D seismic program on the Middle-Sedelskoe license is scheduled to start in February.  The results of the interpretation are expected in Q3.

The gas production is stable at around 120.000-140.000 m3/day.

The Chairman comments:

“I am pleased to see that AOGC has started the 2011 work program which we all have been looking forward to. This year will be exciting with a high level of activity throughout the year”.

Contact person:
Chief Operating Officer – Espen Glende
Phone +47 22979900

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.