Dana Gas announces new gas discovery in Egypt

Dana Gas, the Middle East private-sector natural gas company, has announced a new gas and condensate discovery from its El Wastani West-2 well (EWW-2).
The well has been tested and flowed at a rate of 9.5 million standard cubic feet per day (mmscf/d) of Gas and 1,022 barrels of Condensate per day (bc/d) at 28/64" choke from the Qawasim sands.
Centurion Petroleum Corporation, the upstream division of Dana Gas, drilled the EWW-2 well to a total depth of 3,175 meters and encountered 8.3 meters of net pay over a gross pay interval of 24 meters. The EWW pool represents a new block to the west of El Wastani gas field. Estimates of recoverable reserves from this new pool are under evaluation.
The EWW-2 well, which came on stream on May 29th, is located approximately 800 meters from the Company’s El Wastani Gas Processing Facilities.
Meanwhile, work-over of another well, EW-12, has been successfully completed. Additional perforation in the gas bearing zone of the Abu Madi formation has resulted in an increase of the well production.
An infill well, EW-8, in the El Wastani was drilled on May 13th and is expected to be completed by end of June. This well will add to El Wastani Gas and Condensate production from the Abu Madi formation.
Duncan Nightingale, Dana Gas General Manager for Exploration and Production, said: "A complete integrated study of Dana Gas’s exploration and producing acreage is near completion. The results of the study have permitted the identification of potentially prolific new drilling locations in the currently producing assets and have heightened the potential for further exploration success.
The study has also identified new and potentially high volume deeper reservoirs".
It is expected that Dana Gas will drill a total of 12 Exploration wells in Egypt before the end of 2007.
Dana Gas is currently Egypt’s 6th largest natural gas producer and the Company’s Egypt Business Development team continues to pursue expansion projects and new business opportunities in North Africa.



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