Aladdin Oil & Gas Company ASA (AOGC) has reactivated one of the wells covered by the recently purchased licenses. The well is now producing approximately 140 barrels per day.

Well #91 has been reactivated. It is covered by the Nikiferovskoye licence, one of the company’s new licences. The well is now producing around 140 barrels per day, somewhat exceeding the company’s expectations. The output of the well is expected to stabilize at around 100 barrels per day.

Nikiferovskoye encompasses around 7 million barrels of P2 reserves. There are plans to reactivate two or three further wells under the same license.

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.