(Oslo, 31 March 2008) Aladdin Oil & Gas Company ASA has completed re-activation of Well #65 on the Bogdanovskaya license in Orenburg. The well is now being tested and produces over 100 barrels per day. The production rate is expected to increase further through perforation of additional zones as well as by pumping

- The Well #65 was drilled later than the other wells on the license and has a better, though not optimal, location on the structure. However, the results of the re-activation are promising, and indicates the potential of other wells on this structure. So far we have decided not to stimulate Well #65, but we will consider this as an option, says Espen Glende CEO of Aladdin Oil & Gas Company.

Aladdin Oil & Gas Company maintains the production target of 700-1000 bopd for the existing wells

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 100 employees.