(Oslo, September 12th 2007) Aladdin Oil & Gas Company ASA has completed two drilling programmes on the company’s licences in Uktha. The drilling results and the following logging are considered as promising.

Well MS #16 A on the Middle Sedolvskoya licence by Uktha is drilled to a total depth of 760 meter. After completed logging, 2-3 very interesting zones are found and the testing of these zones is under preparation.

- The log is promising and we believe that at least one of the zones contains oil- or gas reserves worth operating, says Espen Glende, CEO in Aladdin Oil & Gas Company ASA in a comment.

The zone testing will take place over several weeks and the results will be communicated to the market upon completion.

Well WU #15 in the West Ukhtinskoya license by Uktha is drilled to a total depth of 310 meter and the testing of one interesting zone is completed. It was found hydrocarbons in the zone, but not sufficient for commercial operations. The rig and equipment are now moved to a new location, well WU #15, in the north of the licence. The drilling on the new well is expected to be initiated in a short period of time.

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

Aladdin Oil & Gas Company ASA is an exploration and production company based in Norway, head office is in Olso and the shares are traded on the OTC list, ticker 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, Vollvik Invest AS and Arild Nilsen.