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Dragon Oil confident of meeting targets

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    Date: Wednesday 20 Aug 2008

    LONDON (ShareCast) - Oil explorer Dragon Oil remains said it remains confident of meeting its 2008 targets for both the number of wells drilled and production.

    The group announced the successful completion and initial testing of the Dzheitune (Lam) 22/129 development well using the Iran Khazar rig.

    The well was drilled to a depth of 4,135 metres, with testing of the short and long strings resulting in production rates of 1,417 bopd (barrels of oil per day) and 796 bopd respectively.

    "This is the sixth well we have completed this year on schedule and in line with Dragon Oil's drilling programme," said executive chairman Hussain M. Sultan.

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