Dana Petroleum has acquired equity in two licences in the Danish and German sectors of the Southern North Sea.

Dana will acquire 40 per cent equity and operatorship of the Danish 12/06 licence and 56 per cent equity and an option for operatorship of the German B20008-73 licence from PA Resources (PAR) UK Ltd. The total value of the deal is approximately $44 million including future contingent payments. This transaction is subject to the necessary government and partner approvals. Based on the equities Dana is acquiring up to 32 MMboe of contingent and prospective risked resources.

Both licences are located near existing Dana operated licences in the Netherlands; the F02a producing licence containing the Hanze oil field and Pliocene (shallow) gas field and the F06 exploration licence comprising the Zulu, Snellius and Huygens-east prospects.

Tags: Dana Petroleum