In this reporting period, Dana has drilled four exploration prospects and also drilled appraisal sidetrack wells on two of these discoveries (Tornado and Jetta), with results as follows:

Dana's first well in the West of Shetland area, on the Tornado prospect, was successful and discovered significant volumes of gas and oil. Extensive data gathering was undertaken. The partnership group is now considering options for progressing this discovery to commerciality, including the possibility of drilling an appraisal well in 2010. Faroe Petroleum plc, in which Dana holds a 27.2% interest, participated in the Tornado well and also in the recent Glenlivet discovery well, West of Shetland.

In Norway, an oil discovery was made on the Jetta prospect, which is close to Dana's producing Jotun oil field and the Eitri discovery which the Company made earlier this year. Given the proximity to the Jotun infrastructure, and common license ownership interests, the commercial threshold for development is low and Dana is currently determining the economic viability of these potential developments. Exploration wells at the September prospect in the Gulf of Suez, Egypt and the Trolla prospect in mid Norway did not encounter hydrocarbons.

Dana is currently drilling the Papyrus exploration well, on the West El Burullus concession, (Dana 50%) offshore Nile Delta, Egypt, targeting gas at a similar horizon to the West El Burullus-1 discovery made in 2008. The well is expected to complete around year end and its key aim is to prove additional gas volumes in this area in order to optimise development planning. An exploration well on the much larger Bamboo prospect, is due to spud following completion of Papyrus, and will target deeper, high pressure gas reservoirs which have the potential to open up significant further prospectivity in the block.

In addition, the Company is drilling two wells, Azhar-E2x and Sohba SW-1x in the East Beni Suef concession, onshore Egypt. These wells are part of an ongoing drilling program which has resulted in three new fields being brought on-stream in the last year.

Tags: Dana Petroleum