Dana Petroleum updates exploration activities

Aberdeen-based Dana Petroleum has provided an update on its exploration activities off northwest Africa.

Offshore staff

(West Africa) - Aberdeen-based Dana Petroleum has provided an update on its exploration activities off northwest Africa. Offshore Morocco, a new 3D seismic acquisition survey is underway over the northwest Safi exploration license, operated by Norsk Hydro.

The aim is to define drilling targets on prospects identified from a 2D survey acquired last year, with a view to drilling in 2007. Dana has 26.25% in the license, the other partner being state oil company Onarep.

In Mauritania offshore block 1, where Gaz de France recently farmed in to become operator with 24% (Dana retaining 36%), theStena Tay semisubmersible is on location and has begun drilling the Faucon-1 well.

This is a Cretaceous channel system prospect, sealed against a salt diaper, with potential in-place oil of over 1 Bbbl, according to Dana. The planned total well depth is 4,200 m.

On the other side of the continent, Dana, operator Woodside and the Kenyan authorities have agreed to cease discussions concerning an extension of the initial term of the L10 block permit offshore southern Kenya.

Woodside/Dana will also relinquish outlying ultra deep block L11, but have retained their interests in blocks L5 and L7 in the northern offshore region. They plan to drill some prospects there in 2006.

11/23/05

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