15th Jul 2005 07:00
Dragon Oil PLC15 July 2005 PRESS RELEASE Dragon Oil Plc ('Dragon' or the 'Company') PRODUCTION BEGINS FROM WELL LAM 10/110 Dragon is pleased to announce well LAM 10/110 on the refurbished LAM 10 platformin the Cheleken Contract Area, offshore Turkmenistan has tested oil from Zones4, 5, 8 and 9 at a combined rate of 1603 barrels of oil per day. The previouslyreported technical difficulties were successfully resolved and the well is nowon production. The deep reservoir zones 11 and 12, drilled and tested for the first time byDragon Oil flowed water at the LAM 10/110 location. However, significantpotential exists in these zones and they will be further evaluated at an updiplocation as part of the ongoing field development. The Iran Khazar jack-up rig is currently being skidded to drill the second wellfrom the refurbished LAM 10 platform, well LAM 10/111. This well is planned tohave a total depth of around 3600 metres. Hussain M. Sultan, Chairman of Dragon Oil commented: "We are pleased that LAM 10/110 is now producing oil and generating revenue. Wenow look forward to a successful outcome from LAM 10/111, the next well in ourcontinuous drilling programme, and from our ongoing workover programme." Ends Enquiries:Citigate Dewe Rogerson+44 207 638 9571Martin Jackson / George Cazenove Date: 15 July 2005 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
DGO.L