Press Release
14th November 2002
DANA PETROLEUM PLC
("Dana" or the "Group")
APPOINTMENT OF FINANCE DIRECTOR
As previously advised in the Interim Results announced 25 September 2002, Dana is pleased to confirm the appointment of Mr David MacFarlane as Group Finance Director, with effect from 1 November 2002.
Mr MacFarlane holds more than 20 years of experience in financial control and management in the upstream oil and gas business. Between 1985 and 1993 he was Finance Director of the MOM Group, later becoming Finance Director for two key subsidiaries of the John Wood Group plc. He joins Dana from Amerada Hess where during the last six years he has headed finance for its fast growing international exploration and production group and, most recently, for its substantial UK production business.
Recognising Dana's growing oil production portfolio and significant number of new business opportunities, the Board decided to further develop the finance and commercial teams by appointing separate executive directors for each function. Accordingly, also effective 1 November 2002, Mr Graham Stewart, who during the past three years had responsibility for both the financial and commercial activities of the Company, will become Commercial Director and focus on the delivery of new business opportunities for the Dana Group.
Mr MacFarlane does not currently hold any other directorships, nor has he held any other directorships within the last five years. Save as disclosed above, there are no further disclosures to be made in terms of paragraph 16.4 of the Listing Rules of the UK Listing Authority.
Charles M Smith CBE, Chairman of Dana Petroleum plc, commented:
"Dana's successful exploration programme over recent years, with 10 discoveries from its last 13 wells, has now led to a period of strong growth. Our production has more than doubled since mid-year and is expected to rise further over the coming months. With record reserves and production the time has come to apply further focus to financial and business development activities at board level and hence separate these roles.
I am delighted to welcome David to Dana at this important time and I am sure his highly relevant experience will benefit the Company considerably as we drive forward."
For further information please contact:
| Tom Cross, Chief Executive | Dana Petroleum | 01224 652 400 |
| Mark Williams | Teather & Greenwood | 020 7426 9000 |
| Archie Berens | College Hill Associates | 020 7457 2020 |

