Dragon Oil positive on well test results

DRAGON OIL, the Dubai-based explorer operating in Turkmenistan, tested its Dzheitune (Lam) 22/128 development well in the Central Asian republic and expects to meet its output forecasts.

The well was drilled to a depth of 3,848 meters (12,625 feet) and pumped 2,600 barrels of oil a day, Dragon said. Further testing is scheduled for the next few weeks.

“This is the fifth well we have completed this year on schedule and in line with Dragon Oil’s drilling program,” executive chairman Hussain M Sultan said in the statement. “We are confident that we will meet our 2008 targets for both the number of wells drilled and production.”