(Oslo, November 6th, 2007) Aladdin Oil & Gas Company ASA has signed on a contract to carry out a 3D seismic survey in the remaining part of the Bogdanoskaya licence in Orenburg.

The 3D study that the company carried out earlier this year in the Bogdanovskaya licence in Orenburg revealed 33 very interesting prospects. The company has therefore decided to complete the 3D survey and has signed on an agreement to start up the work in November.

The company will use the opportunity to carry out seismic surveys outside of the licence borders to reveal eventual structures that continues into vacant neighbour licences. Existing 2D seismic on this block indicates interesting structures and the 3D seismic will serve as basis for a more precise evaluation of the block. Furthermore, this will give the opportunity to be awarded vacant areas.

− With 3D surveys on the remaining part of the block, we may get an increase in the resource estimates on the licence, as well as looking into the opportunity to be awarded vacant areas from neighbour licences, says CEO Espen Glende in Aladdin Oil & Gas Company ASA in a comment.

For further information, please contact:
CEO, Espen Glende, Aladdin Oil & Gas Company ASA, Phone: (+47) 906 05 434

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 the company ZAO Orneftegaz in the Orenburg area. The company has around 80 employees and intends to be traded on Oslo Axess during 2007. The company’s largest shareholders are Paal Hveem, Arild Nilsen and Vollvik Invest AS.