Dragon Oil Begins Drilling LAM 10/110 Well

Dragon Oil reports that well LAM 10/110 was spudded on December 25, 2004 from the LAM 10 platform.

This well is the first well in a planned series to be drilled from the LAM 10 platform as part of the Company's continuous drilling program in the Cheleken Block, offshore Turkmenistan. The topside facilities on the platform are currently being upgraded to process the additional expected production and a new 8-inch pipeline has been installed to flow production.

Well LAM 10/110 is currently drilling at a depth of 450 meters MD (measured depth). The planned depth is 4,990 meters MD.