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The Tungsten Explorer drillship of UAE firm Dana Gas on 13 May arrived at the Merak Prospect in the Egyptian Mediterranean, where the firm plans to spud a high-impact wildcat well. Speaking on the firm’s 6 May, Q1 earnings call, CEO Patrick Allman-Ward says once the well is spudded, it will take around 60 days to drill, with preliminary results expected in the third quarter ( MEES, 10 May ).
The well is just 40km to the east of Italian firm Eni’s Nour discovery announced in March, itself located 50km north of the Sinai Peninsula in 295ms depth ( MEES, 15 March ).
Mr Allman-Ward also revealed that the firm is reviving plans to list in London. Currently trading on the Abu Dhabi Securities Exchange, Dana’s CEO told investors that a foreign listing would “most likely be [on the] London Stock Exchange but it is not yet confirmed.” (CONTINUED - 142 WORDS)