Turkmenistan: Dragon Oil Completes Dzheitune (Lam) 28/147 Development Well

Dragon Oil plc , an international oil and gas exploration and production company, announces the completion and initial testing of the Dzheitune (Lam) 28/147 development well.

The well, which is the second in a series of wells to be drilled from the Dzheitune (Lam) 28 platform, was drilled to a depth of 3,400 metres on a single completion basis by the NIS rig. The well was tested on a 24/64″ choke and flowed at an initial rate of 2,451 bopd with a well head flowing pressure of 1450 psi.

The NIS rig has since skidded to the next slot on the Dzheitune (Lam) 28 platform and has spudded the Dzheitune (Lam) 28/149 well.

Dr Abdul Jaleel Al Khalifa, Chief Executive Officer, commented:

“I am delighted to report the successful completion and initial testing of the Dzheitune (Lam) 28/147 development well, in addition to the spudding of the Dzheitune (Lam) 28/149 well. This brings the Company to a total of seven new development wells to date this year and we remain on target to complete 11 new wells in 2010.”

About Dragon Oil

Dragon Oil Plc is an innovative international oil and gas development and production company, quoted on the London and Irish Stock exchanges (Ticker symbol: DGO). Its principal producing asset is in the Cheleken Contract Area, in the eastern section of the Caspian Sea, offshore Turkmenistan.

Dragon Oil (Turkmenistan) Ltd., a wholly owned subsidiary of Dragon Oil Plc, holds 100% interest in and is the operator of the Production Sharing Agreement for the Cheleken Contract Area in the Caspian Sea, offshore Turkmenistan. Operational focus is on the re-development of two oil producing fields, Dzheitune (Lam) and Dzhygalybeg (Zhdanov).

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Source: Dragon Oil,September 7, 2010,