Dragon completes Caspian well test

Dragon Oil Plc has successfully completed and initially tested the Dzheitune (Lam) 22/126 development well, drilled from the Dzheitune (Lam) 22 platform in the Cheleken contract area in the Caspian Sea, offshore Turkmenistan.

Offshore staff

DUBAI -- Dragon Oil Plc has successfully completed and initially tested the Dzheitune (Lam) 22/126 development well, drilled from the Dzheitune (Lam) 22 platform in the Cheleken contract area in the Caspian Sea, offshore Turkmenistan.

The well was drilled to 4,307 m (14,131 ft) and a dual-zone completion made. The short string tested at a rate of 1,602 b/d of oil on a 20/64-in choke while the long string tested 1,193 b/d of oil on a 12/64-in choke. The CIS-1 drilling rig is currently skidding to well Dzheitune (Lam) 22/128 and will commence drilling shortly.

Dragon's Dzheitune (Lam) 28/120 well had been shut-in since early March as a result of technical problems arising from the extreme weather conditions.

"Dragon Oil has managed to overcome the difficulties posed by the unusually cold weather in Turkmenistan this winter and has restored the flow from the well Dzheitune (Lam) 28/120," says Hussain M. Sultan, chairman and CEO. "This is an important well for Dragon Oil, situated as it is in the Dzheitune (Lam) West structure, and we will continue to monitor the production from the well closely."

In other news, theIran Khazar jackup drilling rig is drilling a development well, Dzheitune (Lam) A/127, and to date has reached a depth of 3,278 m (10,755 ft) with a target depth of 4,164 m (13,661 ft). Drilling is expected to be complete this June.

04/29/2008

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