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Dana Petroleum
www.dana-petroleum.com
Dana Petroleum is a FTSE 250 independent oil and gas exploration and production company with high impact opportunities in the North Sea and Egypt.

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Drilling commences at Dana Petroleum’s 25% owned Anne Marie oil project

26th Jul 2010, 11:12 am Drilling commences at Dana Petroleum’s 25% owned Anne Marie oil project

Oil and gas producer and FTSE 250 constituent Dana Petroleum (LON:DNX) has announced the commencement of drilling at the Anne Marie exploration well at its 25% owned Anne Marie prospect and license area.

Apart from its direct interest in the project, Dana owns 27.5% of Faroe Petroleum (LON:FPM), which has a 12.5% interest in the project.

The well is being drilled by the Norwegian semi-submersible rig Seadrill West Phoenix, which is expected to remain in operation for about 75 days. The project is operated by Eni Denmark BV, which has a 30% operating interest. Other partners in the project include OMV with a 20% stake and CIECO, which holds a 12.5% interest.

The license was awarded in 2000 under the First Faroese Licensing Round.

“This is the first of three 2010 exploration wells to be drilled in the deep water Atlantic margin, all of which are targeting substantial oil prospects,” said chief executive of Faroe Petroleum Graham Stewart.

The second and third wells will target the North Uist/Cardhu and Lagavulin prospects and will be operated by BPO (LON:BP) and Chevron (NYSE:CVX) respectively.

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