(Oslo 24 March 2009) Aladdin Oil & Gas Company ASA has completed a preliminary analysis of gas well 1D. The well appears to be similar to and in communication with wells #1A and #1C. The A60 rig has now been moved to drill prospect 14, and a contractor is drilling prospect 7, on the MS license.

Well #1D will complete a lengthy production test next month, among other things to establish production capacity. In addition thorough analyses will be made and the reservoir mapped better. The company’s URB rig will be used for this. Gazprom’s local institute will be responsible for the test.

The testing program is comprehensive, and one wants to test the deeper parts of the reservoir as well. This to establish if it contains liquid hydrocarbons (oil and/or condensate). If the deeper part of the structure contains gas/oil, the structure and particularly the P90 reserves, greater than originally estimated.

There are also planned tests in the upper zones of the reservoir to confirm deliverability of gas over time. This will be in the same zones that were tested in #1A and #1C.

Drilling of new wells on MS license
Two rigs are now active and drilling the interesting prospects 7 and 14 on the MS-license. These prospects are located within the same gas trend as structure 1. This gas trend extends to the southeast from Ukhta.

Together with UK external consultants the company has evaluated the 2006 seismic project again, using data from recently drilled wells as well as older wells. This has resulted in a new prospect called 1 South, immediately to the south of the existing gas field. This is an interesting prospect as it is very close to existing infrastructure, and can also be drilled during the summer season. The A60 rig is planned to drill this prospect summer 09.

- There is considerable excitement related to the drilling of the prospects 7 and 14, where we hope to find more gas. The drilling is well underway, and we expect results from these wells before the spring thaw sets in late April, says General Manager, Hans Axel Jahren.

For further information, please contact:
CEO, Hans-Axel Jahren (+47 900 70 873)

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.