INTERNATIONAL EXPLORATION DRILLING UPDATE

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Dana is currently well advanced in the drilling of both the Bamboo prospect offshore in the Nile delta, Egypt (Dana 50% interest) and the Lorcan exploration well in the North Zeit Bay concession in the Gulf of Suez, Egypt (Dana 100%). Results from both these wells are expected around the end of May.

Dana expects the Anne Marie well in the Faroe Islands to commence drilling within the next month. The Company holds a direct 25% interest in the Anne Marie well. Faroe Petroleum, in which Dana has a 27.2% stake, also holds a 12.5% interest in Anne Marie. The Anne Marie well follows on from recent success in the UK West of Shetland area, including the two significant discoveries at Tornado and Glenlivet in the second half of 2009.

Dana also notes that the following press release has been issued by its joint venture partner Det norske oljeselskap ASA in Norway this morning in respect of the Storkollen exploration well offshore Norway.

“Det norske oljeselskap ASA, operator of production license 337, has completed the drilling of exploration well 15/12-22 with the semi-submersible rig Bredford Dolphin. The other participating companies are Dana Petroleum, Wintershall and Bridge Energy. The well is located between the Sleipner- and Varg Fields approximately 240 km west of Stavanger, and only 7 km south-east of the recent Grevling oil discovery, well 15/12-21/21A. The well objective was to prove hydrocarbons in Jurassic and Upper Triassic reservoir rocks (Vestland- and Hegre Groups). The well proved very good reservoir development, but the sands were not hydrocarbon-bearing. No hydrocarbons were encountered in the Lower Tertiary. The well was the third to be drilled in production license 337, which was awarded after APA 2004 December 17th 2004. The well was drilled to a total depth of 3035m subsea, and was completed in Triassic rocks (Skagerrak Formation). The water depth at the location is 83.5m. The well will now be permanently plugged and abandoned.”

10 May, 2010

 

For further information please contact:

Tom Cross, Chief Executive Dana Petroleum plc 01224 652400
Stuart Paton, Technical & Commercial Director    
Nick Elwes College Hill Associates 020 7457 2020

 

NOTES TO EDITORS:

Dana Petroleum plc is a leading independent oil and gas, exploration and production company listed on the London Stock Exchange (symbol: DNX), and is a constituent of the FTSE 250 Index.

The Group currently produces from 36 oil and gas fields across four countries and holds more than 100 interests in exploration and production licences spanning eight countries. Dana’s activities are focused within its two core areas of Europe (North Sea) and Africa (North & West).

In Africa, Dana has production, development and exploration interests across Egypt, oil and gas discoveries offshore Mauritania and Morocco, and additional exploration opportunities offshore Senegal.

In Europe, Dana’s producing interests are focused on oil and gas in the UK North Sea, oil offshore Norway and gas offshore The Netherlands. Dana also has significant development and exploration opportunities across the North Sea.

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