Dana reports gas discovery in Egypt

Dana Petroleum announces that it has made a significant gas discovery with its first exploration well in Egypt.

The WEB-1X well is the first drilled by the Dana Petroleum and Gaz de France partnership at the West El Burullus (WEB) production sharing contract area within the prolific Nile Delta region, in the Mediterranean Sea offshore Egypt.

Dana holds a 50% interest in the discovery and licence area, which contains numerous additional prospects at both shallow and deeper horizons. Gaz de France also owns a 50% stake and operates on behalf of the group.

The WEB-1X well was drilled to 2403 metres true vertical depth, targeting a Pliocene prospect consisting of a turbidite sandstone channel system. The well encountered good quality gas bearing sands and an extensive set of wireline logs were run to maximise the reservoir data acquired on this important discovery.

Source : http://www.dana-petroleum.com/