(Oslo, February 4th, 2009). Aladdin Oil & Gas Company ASA has drilled yet another successful gas well #1D on the MS License in Ukhta. Logging indicates an extension of the existing gas structure previously drilled by #1A and #1C. Preliminary results show that the gas structure may be bigger than initially reported.

Aladdin Oil & Gas ASA has completed the drilling of gas well #1D on the MS License in Ukhta. The well, drilled as a production well, reached target depth within 30 days, entirely according to the plan. Logging of the well has proven the continuation of the same zones discovered on the structure by wells #1A and #1C.

Well #1D was spudded on the flank of the structure, north of the already existing wells. Preliminary interpretation of the logs indicates the same Gas Water Contact as in #1C and it seems that the gas structure is bigger than originally reported extending further north. This will be confirmed as testing of the well has commenced.

- “In the next coming couple of weeks we will test the well and only then we will be able to confirm if the existing zones are commercial and if the gas structure extends beyond the original northern boundary. If this is the case the gas field will be of increased economical importance and reserves will increase”, says Hans Axel Jahren, CEO, in a comment.

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.