Dana Africa Exploration Update

Dana offered an update on its activities internationally. On its activities in Africa the company says that in Mauritania it will be using the Atwood Oceanics rig, the Atwood Hunter, for two wells offshore beginning in August. The first well is located on Block 8 and is targeting the Flamant prospect. According to the company the Flamant, located in Northern Mauritania, is a very large carbonate structure.

After drilling the first well the Atwood Hunter will be moved to Block 7 to drill the Aigrette. Data shows the Aigrette to be a structural closure about 40 kms from Dana’s first discovery on the block, the Pelican. The company plans to target similar age sands as the Pelican in Block 8, which is a very large carbonate structure in this under-explored area of Northern Mauritania.

In Egypt the company successfully completed a 3D seismic survey of the South Feiran Concession during Q2. Seismic processing is underway and interpretation of this data should define exploration targets for drilling from 2007.

Dana also gave an update on the happenings in Kenya, where it is part of a Woodside-led venture in the Lamu Basin. The joint venture has secured a deepwater drillship, the Chikyu, which will enable the much delayed drilling to begin in Q4 2006. Two wells will be drilled to test the Sokwe and Pomboo Cretaceous age structures.

Offshore Morocco, 3D seismic was fast-tracked on the Northwest Safi exploration license. The survey should define drilling targets on a number of prospects identified from earlier 2D seismic, with a view to commencing drilling by late 2007.