13th Mar 2006 10:17
Dragon Oil PLC13 March 2006 13 March 2006 PRESS RELEASE DRAGON OIL plc ("Dragon" or "the Company") WELL LAM 10/113 STARTS PRODUCTION Dragon is pleased to announce that well LAM 10/113 drilled from the refurbishedLAM 10 platform in the Cheleken Contract Area, offshore Turkmenistan, has testedoil from Zones 3, 4, 5 and 6 at a combined rate of 3,453 barrels of oil per day,("bopd"). Well LAM 10/113 was spudded on 29th December 2005 and drilled to a total depthof 3,753 m in reservoir Zone 7. A dual completion was successfully installed inthe well, which enables two reservoir intervals at different pressures, to beproduced simultaneously. This is the third well that has used successfully dualcompletion technology in the Cheleken Contract Area. Reservoir Zone 3 and the upper part of Zone 4 were produced through the uppercompletion string and tested at a rate of 2,774 bopd. Reservoir Zone 4 (lowerpart), Zone 5 and 6 were produced through the lower completion string and testedat a rate of 679 bopd. Both intervals will be produced together. This is thefirst time that oil has been found in the Zone 3 reservoirs in the LAM 10 sectorof the field. The Iran Khazar jack-up rig has been skidded to commence drilling the fifth wellfrom the LAM 10 platform, well LAM 10/114. This well is planned to be drilled toa total depth of around 5,030 metres. Hussain M. Sultan, Chairman of Dragon commented: "We are very pleased with the results of well LAM 10/113 and particularly that oil has been discovered in Zone 3." Ends Enquiries: Citigate Dewe Rogerson (+44 7834 767 054)Media enquiries: Martin Jackson / George CazenoveAnalyst enquiries: Nina Soon This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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