Dragon Oil Tests Positive at Dzheitune Devt Well Off Turkmenistan

Dragon Oil has announced the successful completion and initial testing of the Dzheitune (Lam) 13/135 development well. The well was drilled to a depth of 3,302 meters resulting in an initial combined tested rate of 1,320 bopd with further testing and optimization scheduled to take place over the coming weeks.

The tested rate was slightly below expectations; however, it is expected to improve in line with other wells in this area as the pressures of the gassy zones are normalized enabling the oil zones to produce at normal levels.

The platform-based Rig 40 has now skidded to Slot 5 on the Dzheitune (Lam) 13 platform where it has spudded the development well Dzheitune (Lam) 13/138.

Dr. Abdul Jaleel Al Khalifa, Chief Executive Officer, commented, "I am pleased to report that the Dzheitune (Lam) 13/135 development well has now been completed. Although the combined test rate is below the average production rates expected from this area of the field, the rate will improve as the well pressures normalize. We continue to progress the drilling program in line with the field development strategy and the projected production target for 2009-2011."