AOGC has today spudded well 12B on the WU license in the Timan-Pechora province in Russia, thereby opening the 2008/2009 drilling season. This is a follow-up well to well 12A which was drilled in 1998, and where oil was discovered.

3 sandstone reservoirs are expected to be encountered in this well which will be drilled to basement at a depth of around 340m. Zones of interest will be cored.

The well is located in the middle of the WU license in an area with good access.

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.