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Dana Gas Outlines Gas Resources Estimate in Egypt; Secures Outstanding Receivables

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Dana Gas (ADX:DANA) said Tuesday its recent drilling in Egypt outlined an estimate of 10 billion cubic feet of gas resources in the latest well, up from an initial projection of 3 billion cubic feet.

The license area can potentially add 12 billion cubic feet of future gas resources once developed. The Abu Dhabi-listed natural gas company plans to drill four more wells before the end of 2026.

Additionally, Dana Gas said it received 79 million Emirati dirhams of additional payments as settlement of all outstanding receivables in Egypt.

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