Strong results for Dana’s Platypus well

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Dana Petroleum plc (‘Dana’) is pleased to announce strong results from its Platypus gas appraisal well in the Southern North Sea, which recorded a test flow rate of 27mmscf per day on a 96/64” choke.

Well 48/1a-6 was spudded on 11 April 2012 with the Ensco 80 jack up drilling rig. The well reached a total measured depth of 14,175 feet on 19 June having successfully drilled a 3,100 foot horizontal section within the reservoir. A Drill Stem Test was successfully completed on 23 July and the well is being suspended for use as a future production well.

Dana’s UK Managing Director, Paul Griffin said: “We are very happy with the conclusive results of this complex appraisal well. We will work with our partners to carefully analyse the data we have collected and consider development and gas export options. Dana already holds the second largest acreage in the North Sea and we will continue to invest in exploration opportunities with five wells planned in the North Sea and West of Shetland before the end of 2012.”

The Dana-operated Platypus gas accumulation is located in Block 48/1a in the UK Southern North Sea.  It was discovered in 2010 when the Dana-operated 48/1a-5 well encountered gas bearing Lower Leman Sandstone reservoir.

Dana holds a 59% operated interest in the Platypus well.  Other partners in the venture are The Parkmead Group (15%), First Oil Expro Ltd (11%) and CalEnergy Gas Ltd (15%).

ENDS

 

NOTES TO EDITORS

About Dana Petroleum plc 
Dana Petroleum plc is a $3 billion oil and gas business with operations in the UK, Egypt, Norway, The Netherlands and Africa, producing 60,000 barrels of oil a day. Acquired by the Korea National Oil Corporation in 2010, our ambition is to grow to become a leading international oil and gas company operating in Europe, Africa and the Middle East. We will invest more than $5 billion over the next five years to more than double the size of the company and create value for our shareholder.

About Dana Petroleum UK
Our portfolio in the UK consists of exploration, production and development activities throughout the Northern, Central and Southern North Sea, West of Shetland, and in the Moray Firth. We hold a total of 20 operated and 35 non-operated licences acquired through successful licensing rounds, acquisitions and asset farm-ins. Our average annual production in 2011 was 33,000 barrels of oil per day.   Our strategy is to continue to invest in our UK exploration portfolio and convert exploration prospects into reserves and production. In 2012 we plan to drill five exploration wells and participate in the UK 27th Licensing Round.

For further information contact:
Andrew McCallum
Director of Group Communications and External Affairs
+ 44 (0)1224 616100