Dragon Oil Successfully Completes Dzheitune (Lam) 28/136 Devt Well

Dragon Oil has successfully completed the Dzheitune (Lam) 28/136 development well that was drilled to a depth of 3,075 meters. Initial testing of the long and short strings resulted in production rates of 1,841 bopd and 1,450 bopd, respectively, with further testing and optimization scheduled to take place over the coming weeks. The Dzheitune (Lam) 28/136 development well is the third well to be completed from the refurbished Dzheitune (Lam) 28 platform.

The Iran Khazar jackup rig has now skidded to slot 1 on Platform 28 where it has spudded the Dzheitune (Lam) 28/137 development well.

The platform-based Rig 40 is completing the Dzheitune (Lam) 13/135 development well with testing expected to be finalized within the next few days.

Dr. Abdul Jaleel Al Khalifa, Chief Executive Officer, commented, "I am pleased to report that the Dzheitune (Lam) 28/136 development well was completed successfully and on schedule. We are due to announce the test results of the development well Dzheitune (Lam) 13/135 shortly. We remain committed to ensuring good progress of the drilling program to meet our annual production growth targets for 2009-2011."