Dana Petroleum Plugs and Abandons Fregate-1 Well

Dana Petroleum has released an update about the Fregate-1 exploration well being drilled in Block 7, offshore Mauritania. The well is being plugged and abandoned at a depth of 5,426m MD BRT.

The well discovered gas-condensate and oil pay in multiple thin, but good quality sands within the Lower Cormoran (Santonian) and in the first primary target Petronia (Santonian to Coniacian) intervals. However, the deeper primary target (Fregate Main) contained only a minor hydrocarbon column. The results are being evaluated. Fregate-1 has confirmed the potential of the Late Cretaceous turbidite reservoirs which were proven to contain light oil in Block 7 by the Aigrette-1 well (Dana, 2006) and gas and gas-condensate by Pelican-1 (Dana, 2003) and Cormoran-1 (Dana, 2010) and extended the Block 7 oil province into the south of the block.

Licence interests in Block 7 are Dana Petroleum (E&P) Limited (43.00%, Operator), Tullow Petroleum (Mauritania) Pty Ltd (36.15%), GDF Suez Exploration Mauritania BV (12.85%) and PC Mauritania I Pty Ltd (8.00%).

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Press Release, February 18, 2014