Dragon Oil Successfully Completes Z21/51

Dragon has successfully completed the workover of well Z21/51 on the Zhdanov Field, in the Cheleken Contract Area, offshore Turkmenistan.

Well Z21/51, on the Zhdanov 21 platform, was completed in Zones 9 and 10 with eight intervals perforated. The well tested light oil at an initial rate of 656 barrels of oil per day ('bopd') and 0.5% water. Prior to the workover the well was not on production.

Hussain M. Sultan, Chairman of Dragon commented:
'The results of the well workovers are very encouraging and we will continue the workover program.'