Dana continues drilling Bamboo, Lorcan prospects offshore Egypt

Source: Dana Petroleum

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.

Also Dana noted that its partner Det norske oljeselskap ASA, the operator of production license 337, offshore Norway, has completed drilling the 15/12-22 exploration well with the Bredford Dolphin semisub, and the well was dry. The well will now be permanently plugged and abandoned.

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