Dana Petroleum
Press Release
29th December 2003
DANA PETROLEUM PLC ("DANA", "THE COMPANY", OR "THE GROUP")
Dana Discovers Substantial Hydrocarbon Column with First Well Offshore Mauritania
Dana Petroleum is pleased to announce that the Pelican-1
exploration well, drilled in Block 7 offshore Mauritania, has
discovered significant hydrocarbons within its primary, Tertiary
age target horizon. The well was drilled to a total depth (TD)
of 3,825 metres (12,549 feet) with oil and gas shows encountered
while drilling from approximately 3,400 metres to TD. Subsequent
wireline logging has indicated a gross hydrocarbon column spanning
over 300 metres, within which a number of good quality reservoir
sands have been developed. Preliminary analysis of log and pressure
data indicates the hydrocarbon type within the sands at this
crestal location on the structure to be gas. It is too early
to conclude whether Pelican-1 has discovered an independent
gas field or a gas-cap overlying an oil field. Preparations
are underway to suspend the well to enable re-entry for future
use as appropriate.
Pelican-1 is the first well to be drilled in Block 7, which
covers a vast licence area of 13,469 square kilometres. This
is equivalent to over 3.3 million acres or approximately the
size of 60 North Sea blocks. The Pelican well is therefore a
key data point which gives considerable encouragement for the
future exploration of the northern Mauritania region. A comprehensive
well data gathering programme has been successfully completed,
including reservoir fluid sampling and sidewall cores. Detailed
analysis of all the information obtained is now required to
determine the significance of the Pelican discovery, and in
particular the potential for oil to be located down-dip of the
Pelican-1 well location, the forward appraisal programme and
the improved outlook for prospectivity elsewhere in Block 7.
Commenting on the news, Tom Cross, Dana’s Chief Executive, said:
“We are obviously delighted that our first exploration well offshore Mauritania has discovered a substantial hydrocarbon column. Dana’s technical team will now begin a comprehensive analysis of the Pelican-1 well data and integrate the positive Block 7 findings with ongoing work to assess prospects in Block 1 and Block 8. This will enable decisions on further drilling to be taken over the coming months.”
For further information please contact:
| Tom Cross, Chief Executive | Dana Petroleum plc | 07802 300 718 |
| Andy Bostock, Technical Director | Dana Petroleum plc | |
| James Henderson | College Hill Associates | 020 7457 2020 07774 444 163 |
