Dana Petroleum
Press Release
28 September 2007
DANA PETROLEUM PLC ("DANA", "THE COMPANY", OR "THE GROUP")
DANA MAKES OIL DISCOVERY WITH FIRST WELL IN NORWAY
Dana Petroleum is pleased to note the announcement made by its partner and license operator Pertra ASA today regarding an oil discovery at Storskrymtem, Norway, the full text of which is below.
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 |
PERTRA DISCOVERED OIL IN STORSKRYMTEN
The Norwegian Petroleum Directorate has announced that Pertra
ASA, Operator of Production License 337, has discovered oil
in Paleocene sands in wildcat well 15/12-18S. The discovery
is located 16 km north-west of the Varg Field.
One purpose of the well was to prove hydrocarbons in Paleocene
sandstones in a prospect named "Storskrymten". The well proved
oil in parts of 36 meter thick sandstones of the TY Formation
at a depth of 2,550 meters. The reservoir section will be sampled
and evaluated before a decision to drill a side-track is made.
After having collected the necessary samples, the Operator will
continue to drill in order to test the potential of another
prospect at 3,300 meters, called "Grytkollen".
"Making a discovery in our first exploration well is a good
credit to our exploration staff and very exciting," states CEO
Erik Haugane. "We will now investigate if the volumes are sufficient
for a commercial development. The discovery is very promising
for the other Paleocene prospects mapped in this area, including
the Pertra-operated PL 408 just north of this discovery."
This is the first exploration well in Production License 337.
The license was awarded in APA 2004. The well is being drilled
by the jack-up drilling rig "Mærsk Giant".
The licensees in Production License 337 are:
Pertra (Operator) 45%
Dana Petroleum 25%
Revus Energy 20%
Bridge Energy 10%
