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Tuesday, 30 May 2017

Dana Gas’ board of directors approves carrying out limited drilling activities in Egypt

Dana Gas’ board of directors has approved carrying out limited drilling activitiesin Egypt. “In light of the recent collections received from the Egyptian government the board considered and approved that additional limited drilling activities should be carried out,” the company said in a bourse statement picked up Gulf News. Egypt made payments last week covering 25% of the arrears owed to Dana Gas in 1Q17. The company says it is owed USD 275 mn as of the end of 1Q17.

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