OilVoice - Dragon Oil Completes Initial Testing Development Wells in Turkmenistan

Dragon Oil Completes Initial Testing Development Wells in Turkmenistan

Friday, March 12, 2010

Highlights
• Development well Dzheitune (Lam) A/142 tested at an initial combined rate of 2,103 barrels of oil per day ("bopd")
• Development well Dzheitune (Lam) 13/143 tested at an initial combined rate of 2,168 bopd

Dragon Oil plc (Ticker: DGO), an international oil and gas exploration and production company, announces the completion and initial testing of both the Dzheitune (Lam) A/142 and 13/143development wells in Turkmenistan. Dzheitune (Lam) A/142 well was drilled to adepth of 3,961metres by the Iran Khazar rig. The well tested at a combined rate of 2,103 bopd with the short string contributing 1,180 bopd and the long string contributing 923 bopd.

Dzheitune (Lam) 13/143 was drilled to a depth of 3,450 metres by Rig 40. The well tested at a combined rate of 2,168 bopd with the short string and the long string contributing 1,144 bopd and 1,024 bopd respectively. Further testing and optimisation of both wells are scheduled to take place over the coming weeks.

The Iran Khazar rig has repositioned to workover a well on the same platform in order to enhance its production. Rig 40 has skidded to Slot 1 on the Dzheitune (Lam) 13 platform and will shortly commence drilling the Dzheitune (Lam) 13/144 well.

Dr Abdul Jaleel Al Khalifa, Chief Executive Officer, commented:
"I am pleased to report the successful completion and initial testing of both the Dzheitune (Lam) A/142 and 13/143 development wells, marking our first two successfully-completed development wells this year. Our field production is subject to normal decline and adding wells will ensure that we meet our 2010 committed production growth target."