courtesy Aladdin Oil & Gas Co.

Norwegian start-up Aladdin Oil & Gas Co. claims its geological survey of the Bogdanovskaya license in the Orenburg area of Russia has shown the potential for up to 200 million barrels of oil in a “reef structure”.

The anomaly is “very promising” could lead to drilling later in 2008, a statemetn said.

“Reef structures are commonly excellent oil producers, and oil is being produced from similar Permian reefs in the Orenburg area,” management said, adding that the promising five kilometres of rock lay near the company’s well No. 34, where plant was in place.

Seismic survey data of the 3D kind is being studied by Spectrum of the United Kingdom and already shows the reef zone of interest is 75 metres thick at 1,000 metres below ground.

Typical recovery rates in reefs are around 30 percent, according to the company.

Tags: Aladdin Oil & Gas Company