The Lille John-2 (LJ-2) appraisal well and side-track confirmed the presence of sweet, light oil in the Late Miocene sandstone reservoir. The thickness and quality of the sandstone reservoir encountered in LJ-2 was found, as expected, to be improved relative to the LJ-1 discovery well drilled in 2011. The entire reservoir package was cored, a comprehensive log suite gathered followed by a drill stem test over the entire interval. The production test showed a maximum flow rate of 1,400 bbls/day, with no sand production. The oil quality was similar to that found in the LJ-1, being 34°-35° API with no H2S.

Detailed evaluation of the acquired data will now be performed to confirm the exact thickness of the oil pay in order to assess the recoverable volumes in the Lille John accumulation and to determine commerciality.

The Danish Exploration Licence 12/06 also contains the Broder Tuck gas/condensate discovery. Dana acquired 40 per cent equity in the licence from PA Resources last year and assumed operatorship on 1 June 2014.

The 12/06 licence is located near existing Dana operated licences in the Netherlands; the F02a production licence containing the Hanze oil field and Pliocene (shallow) gas field and the F06 exploration licence.

Dana’s Exploration Director Dr Richard Fox said: “The results of the appraisal well and side-track are very encouraging demonstrating a healthy oil flow rate. The 12/06 licence is a great strategic fit for Dana giving us access to resources close to our existing licences operated from our Netherlands office, as we look to grow and develop our European operations."

The following companies participate in License 12/06: Dana Petroleum Denmark B.V. (40% and operator), PA Resources (24%), Nordsøfonden (20%), Danoil Exploration A/S (8%) and Spyker Energy ApS (8%).

About Dana in the Netherlands

Our business in the Netherlands consists of a balanced portfolio of exploration, production and development projects. We operate eight offshore production and exploration licenses including the De Ruyter, Hanze, Van Ghent and Van Nes fields. In addition, we have interests in 20 non-operated production and exploration licenses, both offshore and onshore.

About Dana Petroleum Limited

Dana Petroleum Limited, a wholly owned subsidiary of the Korea National Oil Corporation (KNOC), is an international oil and gas business with operations in the UK, Egypt, Norway, the Netherlands and Africa, producing an average of around 50,000 barrels of oil a day. Dana’s ambition is to become a leading international oil and gas company operating in Europe, Africa and the Middle East.