Dragon Oil reports another Caspian oil strike

Yet more success from the Cheleken Contact Area

The initial test result from the well was 1,767 barrels of oil per day.
The initial test result from the well was 1,767 barrels of oil per day.

Dragon Oil announced the completion and initial testing of the Dzheitune (Lam) B/157 development well. The Dzheitune (Lam) B/157 well was drilled to a depth of 2,900 meters and completed as a single producer by the Iran Khazar rig.

The initial test result from the well was 1,767 barrels of oil per day ("bopd"). The Iran Khazar rig has skidded to the next slot and spudded the Dzheitune (Lam) B/159 well. The NIS rig is currently drilling the Dzheitune (Lam) 28/158 well.

Dr Abdul Jaleel Al Khalifa, Chief Executive Officer, commented, "We have put into production six wells within the 2011 drilling campaign, having today reported the completion and initial testing of the Dzheitune (Lam) B/157 development well. We are making good progress on the drilling program and will update the market on the production numbers for the first half of the year on July 21, 2011 in the trading statement."

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