Press Release
20 November 2007
DANA PETROLEUM PLC
("DANA", "THE COMPANY", OR "THE GROUP")
DANA MAKES SECOND OIL DISCOVERY AT STORSKRYMTEN, NORWAY
Dana Petroleum is pleased to note the announcement made by its partner and license operator DNO ASA (Pertra ASA) today, regarding a second oil discovery at Storskrymtem, Norway, the full text of which is translated below.
20 November 2007
For further information please contact:
| Tom Cross, Chief Executive | Dana Petroleum plc | 01224 652400 |
| Stuart Paton, Technical & Commercial Director | Dana Petroleum plc | 01224 652400 |
| Nick Elwes | College Hill Associates | 020 7457 2020 |
“DNO ASA (Pertra ASA), Operator for PL337 has completed the drilling of exploration well 15/12-18S and the sidetrack 15/12-18A in the North Sea between the fields Sleipner and Varg. Two oil discoveries were made in Palaeocene reservoir rocks.
The well 15/12-18S had two targets; one in Palaeocene (Storskrymten prospect) and one in Jurassic/Triassic (Grytkollen prospect). In the Palaeocene, a 23 metre oil column was discovered in sandstone with good reservoir properties and belonging to the Ty formation. A nine metre thick sand was penetrated in the Jurassic age (Grytkollen) but this was water bearing. The well was drilled to a total measured depth of 3520m and completed in Permian age.
The sidetrack 15/12-18A was drilled to appraise the oil discovery and verify the reservoir development in the Ty formation and overlying sandstones. The well found sand in the Ty formation and the Heimdal formation. The sandstones in the Heimdal formation were oil bearing. The sidetrack was drilled to a total depth of 3036m and completed in rocks of late Cretaceous age.
The Operator estimates the total in place volume of oil to be 17 million Sm3 (107 million barrels). The total recoverable volume of oil in Storskrymten, which now includes both the Ty and Heimdal formations, is estimated at between 1.5 and 7 million Sm3 (between 9 and 44 million barrels). Further analyses are necessary to determine if an appraisal well has to be drilled. The oil can possibly be produced to Petrojarl Varg about 17 km south of Storskrymten.
This is the first exploration well in PL 337 from APA 2004. The well was drilled with the jack up rig Mærsk Giant at 90 m water depth. The well is now being plugged and abandoned before being transferred to Talisman.”
Licensees in production licence 337 are as follows:-
Dana Petroleum 25%
Det norske oljeselskap (DNO, operator) 45%
Revus Energy 20%
Bridge Energy 10%
