VPC Venture Prod.

RNS Number:4725X
Dana Petroleum PLC
26 January 2006

For release at 07:00 hrs on Thursday 26th January 2006



                               DANA PETROLEUM PLC
                     ("Dana", "the Company" or "the Group")

                DTI APPROVAL OF GOOSANDER OIL FIELD DEVELOPMENT


Dana Petroleum is delighted to announce that the UK Government's Department of
Trade and Industry (DTI) has given its approval for the development of the
Goosander oil field, located in Block 21/12 in the UK Central North Sea.
Goosander will be developed as a 12 kilometre sub-sea tie back to the Kittiwake
platform.


The Goosander oil field was discovered by Dana and its then coventurers in 1998
by the 21/12-3 exploration well, which flow tested at 8,200 barrels of oil per
day.  In accordance with the approved development programme, this well will now
be re-entered and completed as a producer.  This work is scheduled for Q2 2006
using the Transocean 704 drilling rig.  The drilling of a water injection well
to support the producer is planned for 2007, subject to the performance of the
production well.


First oil is anticipated in Q3 2006 at a peak annual average production rate of
approximately 9,500 barrels of oil per day.  Field life is expected to between 7
and 10 years with cumulative production of 15.2 million barrels of oil and 2.6
billion cubic feet of gas.


The coventurers in the Greater Kittiwake Area are Dana Petroleum 50% and Venture
Production 50% (operator). This significant Central North Sea production hub
will now see the Goosander field added to its already producing Kittiwake,
Mallard and Gadwall oil fields.



Enquiries:




Dana Petroleum plc             Tom Cross, Chief Executive           01224 652400
                               Andy Bostock, Technical Director     01224 652400
College Hill Associates        Nick Elwes                           020 7457 2020





                      This information is provided by RNS
            The company news service from the London Stock Exchange
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