Dana Petroleum reported that at its Annual General Meeting held, all resolutions were approved by shareholders.

Commenting on the substantial progress and activities of the Company, the Board of Directors released the following statement:

"2007 was another excellent year for Dana, continuing its successful track record of year-on-year growth. The highlights of 2007 included the completion of two major acquisitions in Egypt and Norway, an outstanding reserves replacement ratio of 316%, record oil and gas production growth and very strong financial results.

Progress continues at pace with 17 exploration and appraisal wells planned for drilling in 2008.

"Already in 2008, there have been significant oil discoveries at West Rinnes and East Rinnes and an important gas discovery at West El Burullus. The Company has stepped up a gear in terms of the number of exploration wells being drilled whilst remaining focused on building the breadth and quality of its exploration portfolio. Delivery of the extensive exploration program will continue at the current rate through the rest of 2008 and 2009.

The Company now produces oil and gas from 30 fields across 4 countries; the UK, Egypt, Norway and the Netherlands, and it is currently exploring for oil and gas in 11 countries across Europe and Africa.

Dana is in a very healthy position with a high caliber portfolio of production, development and exploration assets which is underpinned by excellent cashflow and a strong balance sheet. The company will continue to develop its existing asset base whilst seeking out new commercial opportunities."

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