Dana Plans Stellar Year for E&P

Dana Petroleum reported up to 17 exploration wells that have been scheduled for 2008, with rigs for 14 of these already secured.

A valuable new oil field discovered at West Rinnes is close to Dana's Hudson producing field.

Three exploration wells are currently being drilling at East Rinnes (North Sea), West El Burullus (Nile Delta) and West Gihan (Gulf of Suez).

Dana Petroleum plans a 2008 capital investment of approximately UK200 million across existing fields and licences.

Dana Petroleum is preparing for forthcoming licensing rounds in the UK, Norway and Egypt.

"2008 will be the most active year of exploration in Dana's history," said Dana Chief Executive Tom Cross. "A total of 17 wells are planned, focused on the UK, Norway and Egypt."