re: More write up's on HDR - Dana to drill next ye Aberdeen’s...

re: More write up's on HDR - Dana to drill next ye Aberdeen’s Dana close to major oil strike

Jeremy Cresswell
[email protected]


A RARE, oil-rich well has been discovered in the north-west African state of Mauritania, less than 100km from acreage controlled by Aberdeen-based Dana Petroleum.

Dana chief executive Tom Cross said that surveys indicated a large number of deepwater targets to prospect in the area.

"We’ve seen a bunch of structures... it’s going to be multi-billion barrels," said Cross, after Australian energy group Woodside Petroleum reported that a thick layer of oil-bearing sediments had been encountered by a well drilled less than 100km from acreage controlled by Dana.

Cross added: "We’re very excited… we have a big position out there. Dana’s acreage is equivalent to 150 North Sea blocks… that’s a huge area."

Woodside operates the Chinguetti field, the first exploration well ever drilled in the deep waters off the shores of Mauritania.

Woodside, and partners London-listed Australian-UK group Fusion, Italian energy giant ENI, plus Hardman Resources and Roc Oil of Australia, which discovered the well last year, said in a brief statement: "Preliminary evaluation of data indicates that the well has intersected several oil bearing sandstones in the primary objective over a gross hydrocarbon interval in the well of 94 metres."

The latest Chinguetti well has encountered more than 300ft of oil trapped in sediment. Preparations are now being made to test the latest find before a third well is drilled in order to accurately gauge the size of the field, already thought to have commercial prospects despite its remoteness.

Up to three more wells will be drilled over the next three months, including one on acreage adjacent to a block that Dana plans to drill next year in partnership with Woodside.

Yesterday’s announcement had an immediate and positive impact on Woodside’s share value, which rose 2 per cent to AUS$13.83.

Meanwhile, partner Hardman soared 16 per cent to a 13-month high, while Fusion jumped 13.5 per cent to 52.5p in London.

Roc, which has applied to drill for oil onshore UK at Bingfield, near Chesters, also saw a modest share rise of 2.7 per cent. Further increases can be expected within days, should the Chiguetti tests produce further exciting news.

West Africa has delivered a wealth of major oil discoveries since the mid 1990s, particularly in the waters off Angola and Nigeria. Now Mauritania is tipped to join this league.

The area is also rich in gas. ChevronTexaco yesterday disclosed its latest gas find, Aparo, off the coast of Nigeria. The firm is already mapping out development options for its latest discovery.

This is close to the giant one billion barrels-plus Bonga find that super-major Shell is now developing.

Meanwhile, Aberdeen and Grampian Chamber of Commerce is organising an oil and gas trade mission to Angola, West Africa, from 29 November to 8 December. The mission will be supported by the Department of Trade and Industry unit Trade Partners (UK) and is timed to coincide with the fourth annual Angola oil show.

From the Scotsman.