| Updated:
Dana not ripe for the picking
OIL explorer Dana Petroleum said yesterday “it wasn’t for sale,” and that it was focusing on increasing production, even as rivals target each other in a market that analysts say is ripe for mergers and acquisitons.
Dana said its forecasting output will go up by nine per cent, having risen 29 per cent last year.
The Scottish-based explorer also has plans to begin production at two new fields this year. Dana has interests in 34 oil fields.
Chief executive Tom Cross has said that it was “too early” for Dana to consider being acquired.