Dana, production growth a certainty

Brick...calm down old boy, are you saying that production averaged 7000 bpd for the last 6 years, it would appear so, and I agree ;-)

Now correct me or prove me wrong but, production is about to tripple, however, lets put that to the test.

CONFIRMATIONS OF PRODUCTION -



25th September 2002
RNS Number: 6053

RISING PRODUCTION

- First half average production of 5,275 boepd. August production 8,679
boepd
- On target to exceed 15,000 boepd by year-end and grow further in 2003


15th October 2002
RNS Number:4653C

The acquisition of these assets from Agip, alongside Dana's growth from its
existing oil and gas fields, will enable the Company to increase its oil and gas
production significantly. Dana's average production for the first six months of
2002 was 5,275 barrels of oil equivalent per day ("boepd"). By September this
had risen to almost 10,000 boepd.

Otter Field Achieves First Oil Production
The Board of Dana is also pleased to announce that on 12th October 2002, the
newly developed Otter field, in which Dana acquired a 19% interest though the
Agip acquisition, has commenced production ahead of schedule. The field,
operated by TotalFinaElf, is located 150km northeast of Shetland in a water
depth of 182 metres and has been developed as an efficient, subsea tie-back to
the Shell operated Eider platform. Hydrocarbons are being exported via Eider to
North Cormorant using an existing 12" pipeline and onward to Sullom Voe via the
Brent and FLAGS system. Field production is expected to reach a plateau rate of
around 30,000 barrels of oil per day by the end of the year, which should add
approximately 5,700 barrels of oil per day to Dana's overall production.

So according to my sums by October Dana was producing circa 12,000 boepd (assuming 2000 bopd from Otter) but, to add to this, on the same acquisition date ie 15th October and according to the circular dated 28th june 2002 RNS Number 8874X the Hudson field (3500 bopd net to Dana) and the Banff field (2000 bopd net to Dana) also became effective. That brings production to circa 17,500 by mid October.


RNS Number:8277D
Dana Petroleum PLC
14 November 2002

Charles M Smith CBE, Chairman of Dana Petroleum plc, commented:

"Dana's successful exploration programme over recent years, with 10 discoveries
from its last 13 wells, has now led to a period of strong growth. Our production
has more than doubled since mid-year and is expected to rise further over the
coming months. With record reserves and production the time has come to apply
further focus to financial and business development activities at board level
and hence separate these roles.

With the Caledonia due on stream this month, net to Dana 3000 bopd, Claymore C75 horizontal well adding 400 bopd net to Dana, Otter fully on stream this month ie additional 3700 bopd, and first oil due in the fourth quater from Upper Salym we appear to have achieved/be on the brink of in EXCESS of 20,000 bopd BEFORE 2003? As you will be able to see the majority of these figures were obtained from RNS announcements, no conjecture, no insider knowledge, no super computers, just a bit of patient research and a calculator.

Get used to it Brick, it WIIL cost you more to trade these shares AND THATS WHAT UPSETS YOU ;-) Like I said before why would anyone who's distrust of management runs to the depth you describe in any company even trade the shares, if I do not trust a company's management I simlpy will not buy, in any event.

All my figures can be confirmed via the RNS announcements, unlike Bricks conjecture and innuendoes. Production and revenues will tripple, it is not rocket science, it is just that Brick wants to trade them from 10p up to 14p forever.

Add to all of that, the developments highlighted by bonfim and the exposure to some exciting exploration and you have an exellent risk reward play. See you all in the New Year above 15p ;-)

Regards wan ;-)