Dana Petroleum loss rises

Dana Petroleum, which recently acquired Seafield Resources, has increased its pre-tax loss from £0

Dana Petroleum, which recently acquired Seafield Resources, has increased its pre-tax loss from £0.33 million sterling to £0.61 million in the six months ended June 30th, 1997. The results do not reflect Seafield as it was only acquired two months ago. It also acquired Petroceltic in the past year. Dana recorded a turnover of £1.68 million in the first half. No revenue was generated in the comparable period last year.

Dana said it will continue to develop its existing oil and gas interests in western Siberia. Noting that the company "is stronger and more balanced than at any time in its history", Dana said it will "work closely with its Russian partners to maximise mutual interests".