AFRICA

Our portfolio of projects in North and West Africa are managed by our International Exploration and New Ventures teams from our headquarters in Aberdeen, UK. Our interests are in Mauritania, Guinea and Cameroon.

Mauritania

We are the operator of Block 1 with 36% and Block 7 with 43%, offshore Mauritania. We also have a 10.7% interest in Block 2, operated by Tullow Oil. To date, six wells have been drilled in these blocks, four of which discovered hydrocarbons.

The most recent of these wells was Cormoran-1, which was drilled in late 2010. This exploration well both appraised the 2003 Pelican gas discovery and proved the presence of hydrocarbons at two deeper levels. A new well is about to be spudded on Block 7, Fregate-1 using the Stena Drill Max rig in order to prove the prospectivity of the deeper reservoirs.

In Blocks 1 and 2, seismic data is being interpreted with a view to maturing prospects to be drilled in 2013 or 2014.

Guinea

We have a 23% interest in a very large Production Sharing Contract (PSC) located offshore Guinea. Co-ventures in this PSC are Tullow Oil (40%, Operator) and SCS (37%). It is planned to drill a deep water exploration well in this PSC during early 2014.

Cameroon

We are the operator of a PSC for the Bakassi West block in the Rio Del Rey Basin in South West Cameroon. With a 55% interest we are working in partnership with Madison Cameroon Oil and Gas Limited (35%) and SoftRock Oil and Gas Limited (10%). A contract has been awarded to BGP under which it will acquire 350 km2 of 2D seismic data in late 2013 and 2014. This work is being managed from Dana's office in Douala. Preparatory work in advance of seismic acquisition has commenced. Once these seismic data have been acquired, processed and interpreted, Dana plans to drill at least one exploration well in late 2015 or early 2016.