Financial Times: Exploration on song for Dana: “It has also agreed to buy a 40 per cent stake in the Babbage gas field in the southern North Sea from Shell.”: Thursday 29 September 2005

By Rebecca Bream

Published: September 29 2005

Dana Petroleum revealed pre-tax profits more than doubled in the first half because of higher oil prices. It has also agreed to buy a 40 per cent stake in the Babbage gas field in the southern North Sea from Shell. Tom Cross, chief executive, said the company was committed to an ambitious exploration programme over the next two years.

Turnover at Dana rose 47 per cent to £71.6m, while pre-tax profits rose to £42.6m, from £18.8m last time. .Shares in Dana fell 14p to 876p yesterday.

Rebecca Bream

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