Dana Petroleum announces strong 2011 performance
Dana Petroleum plc (“Dana”) the upstream oil and gas exploration and production company focused on Europe, Africa and the Middle East announces its financial results for the twelve months ended 31 December, 2011 as well as a forward looking statement from Dr Marcus Richards, Group Chief Executive.
Marcus Richards, Group Chief Executive:
“As a transitional year, 2011 went very well for Dana Petroleum. We are delighted to have established a successful partnership with KNOC and created the momentum necessary to significantly grow the company.
“We are on track to achieve our goal of more than 100,000 boepd by 2016. With steady and sustainable production, we are reinvesting the cash Dana generates to fund a range of exploration, development and production activities across the portfolio, with immediate successes already being realised in both the UK and Egypt.
“These are exciting times for Dana. We are growing, not only in terms of size, financial success and production but also geographically, and we are building an exceptional team to ensure a bright future.”
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