Dana targets Norwegian prospect

December 11, 2012

Transocean Barents

Dana Petroleum has started drilling a new prospect in the Norwegian Sea in partnership with the operator Maersk Oil Norway.

The drilling rig Transocean Barents has started operations on the Albert prospect in production license PL 513 in the Haltenbanken area. The gas/condensate prospect in the Cretaceous Lysing formation will be drilled down to 3,500 meters and is expected to be completed by the end of January 2013.

Dana has a 50% interest in the Albert prospect license which is operated by Maersk Oil Norway AS (50%). The Albert prospect is centrally located with existing local infrastructure nearby and could be tied back to existing installations in case of a discovery. The prospect is situated immediately northwest of Victoria, one of the largest gas discoveries on the Norwegian Continental Shelf not yet developed.

John M Dahlen, Managing Director Norway said: "This is the last well in Dana's four well drilling campaign in Norway for 2012. In Albert we will test the same reservoir types which have proven hydrocarbons in the adjacent Skarv, Marulk and Snadd fields. A discovery in Albert will also open up for further investigation several adjacent prospects in neighboring licenses held by Dana. We are looking forward to receiving the drilling results from the well early in the New Year."



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