Dana gets the go ahead for Dutch project

first_imgWednesday 22 September 2010 7:26 pm Dana gets the go ahead for Dutch project whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Share DANA Petroleum got the green light from Dutch authorities for its Medway well development in the North Sea yesterday.The oil explorer, which is currently fending off takeover advances from Korea National Oil Company (KNOC), said the new well is expected to add an extra 4,100 barrels of oil per day to Dana’s total by 2012, with the reservoir expected to last until 2020. The Medway oil and gas project will extend the life of the De Ruyter oil field off the Dutch coast, which has been 54 per cent owned by Dana since it took over Petro Canada Netherlands in June. Dana’s chief executive Tom Cross said: “Dana’s experienced operational team in the Netherlands has achieved acceleration of the Medway project and plans are well-advanced to deliver first production in the fourth quarter of 2011.” Cross has rejected several takeover offers from KNOC in recent months, the largest valuing the firm at £1.8bn. The South Korean firm has now taken its £18-a-share bid straight to investors, and claims 49 per cent of shareholders are in favour of a deal. Richard Buxton, Schroder’s head of UK equity, sold around 11.5m shares in Dana on Monday, reducing his stake from 13 per cent to 2.7 per cent. Buxton has previously voiced his support for KNOC’s bid, but was unavailable for comment yesterday. Deutsche Bank, UBS and Credit Suisse all sold shares in Dana in the past week, the company reported to the stock market yesterday. Shares closed flat at £17.91 yesterday. center_img whatsapp KCS-content More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPuffer fish snaps a selfie with lucky divernypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com Show Comments ▼ Tags: NULLlast_img