Aladdin Oil & Gas Company ASA (AOGC) today publishes an update to its reserve estimates, after a management review with its geologists in Ukhta as of April 2014. The reported reserve estimates are based on standard industry practices and methodologies such as decline analysis, reservoir modeling and geological and geophysical analysis. The evaluations and assessments …

Aladdin Oil & Gas Company ASA (AOGC) today publishes an update to its reserve estimates, after a management review with its geologists in Ukhta as of April 2014.

The reported reserve estimates are based on standard industry practices and methodologies such as decline analysis, reservoir modeling and geological and geophysical analysis. The evaluations and assessments have been performed by engineers with extensive industry experience. The 2P reserves estimate represents the expected outcome for the fields based on the performance observed to date, the company’s understanding of the fields and the planned activities in the licenses.

The AOGC group’s total proven and probable (2P) oil and gas reserves were in April 2014 increased to 12.52 million barrels of oil equivalents (mmboe), compared to its previous estimate of 7.91 mmboe.

Aladdin Oil & Gas Company ASA is a Norwegian based exploration and production company, headquartered in Oslo, with its shares traded on the OTC list under the ticker code AOGC. The company owns the Russian gas company OOO Geotechnologia which holds four licenses in the Timan-Pechora province in Northwest Russia.