Dana Gas announces new discovery in Egypt

Dana Gas, the Middle East's largest regional private sector natural gas company, has announced another gas discovery in one of the company's concessions in the Egyptian Nile Delta. The Tulip-1 well is set to add up to 30 billion cubic feet (bcf) of gas to the company's reserves in Egypt.

This comes soon after the announcement of three previous gas discoveries in the Nile Delta area: two dry gas discoveries at the firm's Sondos-1 and 2 wells, and one gas/condensate discovery at the Azhar-1 well. This is the result of Dana Gas' aggressive drilling campaign in Egypt, which began in 2008 and continues to add new gas reserves in 2009.

The Tulip-1 well is located in the West Al Qantara Concession, approximately 15 kilometres from the Company's South Al Manzala gas processing facilities and seven kilometres from the recent discovery Salma Delta-1. The well was spudded on 25 April 2009 and reached a total depth of approximately 2200 metres within the Messinian Abu Madi formation.