Dana Petroleum expects production for 2009 to average between 37,000 and 41,000 boepd. The company has delivered record average oil and gas production of approximately 39,400 boepd in 2008, a 29% growth over the previous year. The company achieved first oil production from the Grouse development in December 2008. It is currently producing from 31 oil and gas fields, spanning the UK, Egypt, Norway and the Netherlands.

Chief Executive, Tom Cross commented, “Dana delivered record production in 2008 and also had an excellent year with the drillbit, adding record oil and gas reserves and replacing production by some 300%. The Group is now producing from 31 oil and gas fields, progressing 2 new field developments which are due on-stream in 2009 and 2010, and working on a number of highly attractive potential development projects. 2009 will see the delivery of an extensive exploration programme. A total of 17 wells are planned for this year, focused on the UK, Norway, Morocco and Egypt. The Company has a strong Balance Sheet, alongside a valuable portfolio of growth opportunities and is well positioned to deliver further commercial transactions.”

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