(Oslo, February 25th 2008) Aladdin Oil & Gas Companay ASA has completed the well stimulation on Well # 51 at the Bogdanovskaya license in Orenbrug. The well is now in production, producing 100 barrels of oil per day. Through the use of pumps, the production is expected to increase further.

The work is conducted by Schlumberger’s Russian subsidiary, Petroalliance, and is completed according to the stimulation programme developed by the consultancy TRACS. The TRACS programme is providing the expected results, about 100-150 barrels per stimulated well.

Petroalliance will immediately initiate the stimulation of Well # 39, and thereafter go to Well # 41 and 33, as the hydraulic fraccing equipment is within reach in the Orenburg region throughout the spring. Simultaneously, Well # 65 will be re-activated. Subsequently, side-track drilling of Well #34 and #47 will be commenced. The side-track drilling is expected to give somewhat higher production rates, compared to ordinary well stimulation.

Aladdin Oil & Gas Company reiterates the production target of 700 – 1000 barrels per day for the existing wells.

For further information, please contact:
CEO Espen Glende of Aladdin Oil & Gas Company ASA by 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 80 employees and is planning an Oslo Axess listing during 2008.