Dana has discovered oil at the Jetta prospect offshore Norway, close to the Jotun producing oil field in which Dana is a partner. The Company notes that the following press release is being issued by its partner, Det norske oljeselskap, in Norway this morning.

"Det norske has, together with operator ExxonMobil, and licence partners Dana Petroleum, Bridge Energy and Petoro discovered oil in well 25/8-17, in the Jetta prospect, south of the Jotun field.

Oil was proven, but with less reservoir thickness than expected. Data has been gathered in the reservoir zones, including pressure tests and oil samples.

The partners have decided to drill a sidetrack well to investigate if the discovery is commercial.

The well was drilled in PL 027D, but the costs are shared with PL 504 and PL 169C."

Operations on the sidetrack well have commenced.

Tags: Dana Petroleum