Press Release
13th December 2005
DANA PETROLEUM PLC
("DANA", "THE COMPANY", OR "THE GROUP")
Faucon-1 Well Operations Update
Dana Petroleum is pleased to provide an update regarding its continuing operations on the Faucon-1 exploration well in Block 1 offshore Mauritania.
Since the Company's last report, the well has been drilled from 11,601
feet (3536m) to the current depth of 12,054 feet (3674m). As drilling
has progressed, indications of increasing pressure have resulted in a
decision to run a 7 inch liner. This casing string has now been cemented
in place and preparations are underway to drill ahead in a 6 inch hole
to the planned total depth of around 13,900 feet (4237m).
An intermediate logging programme was completed over the Upper Cretaceous
interval, above 11,601 feet. This included reservoir pressure measurements
and reservoir fluid sampling. Initial interpretation of the data collected
indicates the presence of two hydrocarbon bearing sandstones, which are
some 500 feet apart. The lower sandstone has a gross thickness of approximately
131 feet of which the upper 33 feet contains a hydrocarbon which, based
on the data available so far, appears to be a light oil or a liquids rich
gas-condensate. The upper sandstone is 13 feet thick and is currently
interpreted to be gas bearing. The hydrocarbon fluid composition in both
zones will not be finally determined until the downhole pressurised fluid
samples recovered from the well have been fully analysed in an onshore
laboratory.
The intermediate interval logged and described above has examined the Cretaceous above a depth of 11,601 feet. There is potential for other sands to be present in the remaining 2,299 feet (701m) or so of section still to be examined as drilling continues down to the planned total depth of 13,900 feet.
A final interpretation on the overall hydrocarbon column encountered,
and hence estimated reservoir volumes, will be made following completion
of the drilling and full analysis of all the log data and fluid samples
recovered from the well.
For further information please contact:
| Tom Cross, Chief Executive | Dana Petroleum plc | 01224 652400 |
| Andy Bostock, Technical Director | Dana Petroleum plc | 01224 652400 |
| Nick Elwes/Ben Brewerton | College Hill Associates | 020 7457 2020 |
