Annual General and Special Meeting of Shareholders Wednesday, September 26, 2012 3:00 pm Calgary Time Viking Room Calgary Petroleum Club 319 – 5 Avenue SW Calgary, Alberta
Dana Gas has a 50% working interest in the Komombo Concession which is jointly operated with Sea Dragon Energy. The 11,500km2 Concession is in Upper Egypt about 1000km south of Cairo. In 2007 Dana Gas Egypt discovered the Al Baraka field on the Concession. Three development wells were drilled on the field in 2008 and 2009, which was followed by an eight well development programme in 2010. Production from three productive zones, Abu Ballas, Six Hills E and F, reached 1000 bopd, (500 bopd net to Dana Gas) at the end of 2010. Further development of the field involves a continued development drilling programme and hydraulic fracturing of the wells, to enhance their productivity and increase recovery of oil from the reservoir.
There is considerable exploration potential on the Komombo Concession and detailed work has been carried out including the acquisition and interpretation of 477 km of new 2D Seismic. Based on the seismic interpretation, new mapping for the Komombo area has been developed with potentially drillable prospects being generated.
From Danagos Q2 financials about the wells with partner Sea Dragon
The Company drilled and tested a successful exploration well, West Al Baraka-2, in the Komombo Concession in Southern Egypt. A reservoir hydraulic fracturing test (frac) was performed in June to optimize the production rates and assess the hydrocarbon potential. After performing the hydraulic fracturing, the well productivity was increased from 30 boepd to 173 boepd, a five-fold increase in production. In order to better understand the formation productivity performance, reservoir extension, pressure support regime and make a decision on the number of wells required for the full development of the field, Dana Gas plans to place the well on long-term testing, utilizing portable testing equipment.
Faris-1 well, the 2nd exploratory well to be drilled in the Komombo concession was spudded in late June. The well will be drilled to a total depth of 6,300 ft (SS) to explore the hydrocarbon potential in the Komombo “A” formation.
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