Dana Petroleum Says Makes Significant Gas Discovery In Egypt

Dana Petroleum Plc. said it has made a significant gas discovery with its first exploration well in Egypt.

In a statement, the company said flow test results "are very encouraging" at the WEB-1X well in the West El Burullus area in the Nile Delta, with the well encountering good quality gas-bearing sands. Dana holds a 50 percent interest in the discovery and licence area and Gaz de France owns the other 50 percent stake and operates on behalf of the group.