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Dana Petroleum - Production spikes up to 28,000 boepd

March 2006

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Dana’s pre-close operational update contained the very good news that production growth has spiked up to 28,000 barrels of oil equivalent per day (boepd), well up on last year’s average of 19,650 boepd. This came thanks to contributions from three new fields in the North Sea including Mallard (oil) which we flagged up in November and the Johnston (gas) and Otter (oil) fields. Dana’s first stab for this year is average production of 25,000-30,000 boepd. With Brent oil firmly established in the US$65- $67 per barrel range, Dana is fast becoming a prolific cash generating machine and net cash, including the proceeds of last November’s placing, stands at £90m. Dana’s engine room for growth remain ...

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