26th Apr 2006 10:58
Dragon Oil PLC26 April 2006 PRESS RELEASE DRAGON OIL plc Dragon Oil Plc ("Dragon") 2006 WELL WORKOVER PROGRAMME: UPDATE Dragon is pleased to announce the successful workover of two wells on theZhdanov Field, in the Cheleken Contract Area, offshore Turkmenistan. Well Z60/68, on the Zhdanov 60 platform, was completed in Zones 9 and 11 withseven intervals perforated. The well tested at an initial rate of 515 barrels ofoil per day ("bopd"). Well Z21/53, on the Zhdanov 21 platform, was alsocompleted in Zones 9 and 11 with six intervals perforated. The well tested at aninitial rate of 214 bopd. Both wells were shut-in prior to workover operationsand are now on production. These workovers follow the successful 2004-2005 campaign on the LAM field, andare the first activities to be conducted on the Zhdanov field since the start ofthe Production Sharing Agreement in 2000. Dragon is utilizing two hydraulicsnubbing units as part of a continuous programme. Workover operations havealready commenced on the next wells in the programme. Hussain M. Sultan, Chairman of Dragon commented: "The results of the well workovers on the Zhdanov Field are very encouraging.The workover programme, which was successful on the LAM Field, is now being usedto develop the Zhdanov Field reserves, and provide additional production." Ends Citigate Dewe Rogerson (+44 20 7638 9571) Media enquiries: Martin Jackson / George Cazenove Analyst enquiries: Nina Soon Dated 26 April 2006 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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