Aladdin Oil & Gas Company ASA’ daughter company OOO Geotechnologia has put the 3rd gass well, 7 VDE drilled during spring 2011, on stream. The gas is now being sent into the salesline. Aladdin has now 3 operational gaswells on gasfield #1 operation and gas is flowing into the sales line from all 3 wells. Combined production is slightly over 100.000 m3/day estimated to increase as production parameters are being tuned optimally.

The Chairman comments:

“This is encouraging news. For the first time Aladdin is producing from 3 gas wells. This significantly increases production and cashflow. Group total production is around 800 boepd”

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 4 licenses in the Timan-Pechora province in Northwest Russia, as well as 5 licenses through our company OOO Veselovskoye in the Orenburg area.