Dana lining up wells in North Sea, Faroe Islands

Dana Petroleum expects to participate in at least six exploratory wells off northwest Europe in the coming months.

Offshore staff


ABERDEEN, UK-- Dana Petroleum expects to participate in at least six exploratory wells off northwest Europe in the coming months.

First up is a well in early March on the Storkollen prospect offshore Norway (Dana 25%), using the semisub Bredford Dolphin. Storkollen is in the same block as the 2007 Storskrymten discovery, and close to Talisman’s more recent Greveling find.

Thereafter, drilling of the Anne Marie prospect off the Faroe Islands should start in early April. Dana has a 25% interest in this well through a farm-in option with operator Eni. Faroe Petroleum, in which Dana has a 27.2% stake, also has a 12.5% interest in Anne Marie.

In the UK southern gas basin, Dana has contracted the jackupGSF Labrador for an imminent well on the Platypus prospect. Here the company has a 45% interest, the remainder held by Endeavour, XTO (now ExxonMobil), and Challenger Minerals.

On completion of this operation, the rig is scheduled to drill the Monkwell structure (Dana 40%, in partnership with Dyas, Gas Plus, and Silverstone.) Both Platypus and Monkwell are near the Cleeton platform, with potential development synergies in the event of discoveries.

E.ON Ruhrgas then takes theGSF Labrador to drill the Tolmount well (Dana 45%). E.ON Ruhrgas has farmed into the license in exchange for carrying a proportion of Dana’s well costs. Tolmount is near to the partnership’s current Babbage gas field development, which is scheduled onstream this summer.

Dana also has a minor interest in the K3-4 well in the Dutch sector, due to spud shortly.

02/25/2010

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