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Dana Discovers Another Gas Well in Egypt

The Azhar-1 well is the fifth discovery in Dana Gas’s drilling 
programme in Egypt.

The new discovery comes a week after Dana Gas announced it had found 20 billion cubic feet of gas at the West Manzala Concession in the Nile 
Delta region.

Last January, Dana Gas said a major gas and condensate discovery at Salma 1 well at the West Qantara concession with estimated reserves of 150 billion cubic feet of gas could double its gas reserves in Egypt. The Salma 1well discovery came close on the heels of a previous discovery at its El Basant-2 well at the West El Manzala Concession which is estimated to have gas reserves of more than 130 billion cubic feet.

Dana Gas, the sixth biggest natural gas producer in Egypt, ended 2008 with a daily production rate from its Egyptian operations of 31,640 barrels of oil equivalent (boe).

Dana Gas said previously it was planning to invest some $500 million in Egypt and Iraq’s Kurdish region this year to boost its gas output.

· rocel@khlaeejtimes.com