Gas Discovered in Romania's Boistea 1

Aurelian reports the results of the Boistea well drilled in the Cuejdiu Concession in Romania, in which the company holds a 45% working interest.

The well was drilled to a total depth of 2,295 meters and encountered a series of thin gas bearing Sarmatian sands in the interval 1,700 to 1,800 meters.

After electric logging and a series of pressure measurements, it has been decided to complete the well to allow a long term flow test of the interval 1,783 to 1,785 meters. After the completion, the drilling rig will be demobilized and the flow test will be conducted in November or December.

Partners in the Cuejdiu joint venture are Aurelian Oil & Gas Romania S.R.L. with 40%, S.N.G.N. Romgaz S.A.with 37.5%, Europa Oil & Gas S.R.L. with 17.5% and Millennium International Resources Corporation (wholly owned by Aurelian) with 5%.

"This was the first well drilled by the group on the Cuejdiu block and highlights the Sarmatian potential in the eastern part of the block, said Michael Seymour, Aurelian's managing director. "The joint venture had already singled out the potential of the western part of the block for deeper targets, and a seismic survey will be undertaken in 2008 to identify possible targets for drilling in that area."