9th Apr 2009 09:20
FOR IMMEDIATE RELEASE
9 April 2009
DRAGON OIL plc
("Dragon Oil", the "Company" or together with its subsidiaries the "Group")
The Iran Khazar jack-up rig contract extended for a further two years
Dragon Oil plc (Ticker: DGO), an international oil and gas exploration and production company, today announces that it has reached an agreement to extend the contract for the Iran Khazar jack-up rig for a further two years commencing May 2009. The Iran Khazar rig is currently drilling the first of four wells to be completed by the year-end.
Dr Abdul Jaleel Al Khalifa, Chief Executive Officer, commented:
"I am pleased to announce that Dragon Oil has successfully negotiated an extension of the contract for the Iran Khazar jack-up rig. Despite a limited availability of rigs in the Caspian Sea, we managed to secure the rig we have been using for a number of years and will continue to use for another two years to ensure that our drilling programme remains on track."
For further information please contact:
Media enquiries
Citigate Dewe Rogerson (+44 20 7638 9571)
Martin Jackson
George Cazenove
Investor and Analyst enquiries
Dragon Oil Plc (+971 4 305 3600)
For investor queries: Leanne Denman, Investor Relations Officer (+971 4 305 3660)
For analyst queries: Anna Gavrilova, Communications Officer (+971 4 305 3425)
Note:
This statement may contain forward-looking statements concerning the financial condition and results of operations of Dragon Oil. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. No assurances can be given as to future results, levels of activity and achievements and actual results, levels of activity and achievements may differ materially from those expressed or implied by any forward-looking statements contained in this report. Dragon Oil does not undertake any obligation to update publicly or revise any forward-looking statement as a result of new information, future events or other information.
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