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MrRight

BERDEEN: Dana Petroleum and its partners have encountered natural gas pay in the Anchois-1 discovery well about 40 kilometers (24 miles) offshore Morocco. The well is located in the Tanger-Larache license, and is Dana's first well offshore Morocco.

Drilled by Pride International semisubmersible Pride North America to a total depth of 2,435 meters (7,988 ft), two intervals of high quality, gas-bearing sands, were encountered in the well. The combined gas column encountered was about 90 meters (295 ft) with about 40 meters (131 ft) of net pay. Preliminary estimates of reserves are around 100 Bcf.

Dana, together with its co-venturers, operator Repsol, Gas Natural and ONHYM have decided to suspend the well as a potential future producer. The joint venture group is now analyzing all the data acquired before deciding on further exploration drilling in the Tanger Larache license.

Dana holds 15 percent interest in the Tanger Larache license area.

According to Dana, this gas discovery is very important as it is the first well in this large under-explored area and the other prospects in the license have been significantly improved by the results of the Anchois well.

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 3927 meters (12,883 ft) 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 percent up to a 66.67 percent interest.

In Norway, Dana will be participating in three wells in the coming months offshore Norway. First, the Fulla discovery, in which Dana holds 10 percent interest and was announced in February, will be appraised by an updip sidetrack using Transocean semi Transocean Leader. Drilling is expected to begin imminently.

Secondly, the Eitri well in the Jotun oil producing area is due to spud in April 2009 using Dolphin Drilling semisubmersible 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 Odfjell Drilling semi Songa Delta.

Tom Cross, Dana's chief executive, said: "Following Dana's recent discoveries at Fulla and South-East Rinnes, the new Anchois discovery is a very important result from our first well offshore Morocco. This builds upon Dana's 2009 exploration success and it is hoped that the coming months will yield further oil and gas discoveries, given the significant number and range of exploration wells being drilled across Dana's portfolio."