Abu Dhabi-listed Dana Gas said it now officially holds a 10% stake in Block 4, which lies in the Nigeria-Sao Tome & and Príncipe Joint Development Zone, in the Gulf of Guinea.

Dana will contribute $6.1 million towards the cost of drilling three wells on the block.
Block 4, which is operated by Addax, covers 857 square kilometres and lies 10 kilometres south-west of the Obo-1 discovery, Dana said in a statement to the Abu Dhabi Stock Exchange.

(Upstream Online)