Dana Petroleum has provided an operational update on its 2009 exploration drilling program in Egypt and Norway.
Offshore Egypt, Dana has started drilling a sidetrack to its South July-1 well in the South East July concession in the Gulf of Suez. The original well was drilled to a total depth of 3927m and found indications of hydrocarbons in the Yusr sands of the Rudeis formation. The sidetrack is targeting the updip potential of this structure and one partner will not participate in the sidetrack so Dana has been able to increase its stake from 40% up to a 66.67% interest.
Also in Egypt, Dana has made a small discovery at Abydos-2x in the onshore North Zeit Bay concession in which the Company holds a 100% interest. The well was drilled to a total depth of 1050m and discovered a 3m interval of good quality sands in the Kareem formation. The Abydos-3x well in the North Zeit concession was spudded on March 11, 2009 and has now reached TD. This second well in the program did not encounter reservoir sands and has been plugged and abandoned. Each of these two onshore wells cost just $2.6 million.
The Qamara-1 well in the onshore North Qarun concession (Dana 75%) in the western desert was dry. Dana and its partners are now evaluating all the data acquired to identify the remaining prospects for drilling in both the North Zeit Bay and North Qarun concessions.
In Norway, Dana will be participating in three wells in the coming months. Firstly, the Fulla discovery (Dana 10%) which was announced in February, will be appraised by an updip sidetrack using the Transocean Leader semisubmersible rig and this is due to start imminently.
Secondly, the Eitri well in the Jotun oil producing area is due to spud in April 2009 using the Bredford Dolphin rig.
Thirdly, the Trolla well, which was originally due to drill late in 2009, has been brought forward to start in August 2009, using the Songa Delta rig.
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