Dana ups stake in Melville

Aberdeen-based independent Dana Petroleum has increased its interest in UK North Sea block 210/24a, which contains the Melville exploration prospect. The other block participants, Shell and ExxonMobil, plan to drill a well on Melville later this month, the main target lying in Brent sandstone. Dana claims this structure could contain 110 MMbbl of oil. It is just south of the 210/24a-8 well, which test-flowed 4,200 b/d of 36° API oil in 1996. If Melville meets expectations, it could be developed though the Hudson field 6-km to the north, operated by Amerada Hess. Dana is negotiating to increase its stake in Hudson to 47.5%.

02/04/05