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Dana Petroleum in Dispute with EnQuest over Recent Eagle Exploration Well

Source: www.gulfoilandgas.com 7/4/2016, Location: Europe

On 1 July 2016, EnQuest announced a discovery in respect of the recently drilled Eagle exploration well in the Central North Sea. EnQuest asserted that it had drilled the well on a 100% working interest basis.

Prior to EnQuest proceeding to drill the Eagle exploration well, Dana had asserted to EnQuest that EnQuest did not have authority to do so.

It remains Dana’s position that it has a 50% ownership interest in the Eagle well discovery and it has reserved its rights under the relevant licence, under the Joint Operating Agreement and at law.

The company looks forward to the further evaluation of the Eagle results in due course.

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