Dana Commences Drilling Offshore Mauritania

Mauritania, Block 7
(Click to Enlarge)

Dana has begun drilling the Cormoran-1 exploration well offshore Mauritania, West Africa, just 2 kilometers southeast of Dana's existing Pelican-1 discovery.

The conductor has been run and Dana has already drilled the 26 inch hole section down to approximately 2,226 meters. The current operation is preparing to run 20 inch casing, before drilling ahead.

Cormoran-1 is being drilled by the Maersk Deliverer drilling rig and is located in Block 7 offshore Mauritania. The planned total depth of the Cormoran well is approximately 4,600 meters and the well is being drilled in a water depth of 1,632 meters.

Cormoran is the largest prospect in Dana's 2010 exploration program and, based on 3D seismic mapping, has a target reserves range of between 400 million barrels and 780 million barrels of oil equivalent.

Dana holds the largest working interest in this Block 7 Production Sharing Contract area with 36%. The well is expected to encounter three discrete zones of interest between approximately 2,890 meters and 4,600 meters.

The participating interests in Block 7 are:

• Dana Petroleum (E&P) Limited (Operator).36.00%
• GDF SUEZ Exploration Mauritania B.V. 27.85%
• Tullow Petroleum (Mauritania) Pty Ltd 16.20%
• PC Mauritania I Pty Ltd 15.00%
• Roc Oil (Mauritania) Company 4.95%.