Results for 3 Months ended June 30, 2011: Revenue from the sale of hydrocarbons increased to AED627 million, with gross profit reaching AED341 million. These figures represent increases of 46 percent and 90 percent respectively, compared to the same period last year. This is due to strong production growth coupled with higher market prices for oil, condensate and LPG during 2011. Production increased in aggregate by 20 percent, from the company's operations in Egypt and in the Kurdistan region of Iraq, where production from the Khor Mor field continues to increase. Earnings before interest, tax, depreciation, amortization and exploration (EBITDAX) increased by 63 percent to AED411 million as compared to the second quarter of last year.

Results for 6 Months ended June 30, 2011: The net profit for the 6 months ended June 30, 2011, was AED216 million compared to AED66 million in the same period last year. The above net profit for the six months excludes an unrealized gain of AED172 million on the company's investment in MOL (the Hungarian oil and gas company, one of our partners in the Kurdistan region), booked directly to equity in line with the company's published accounting policy. EBITDAX for the six-month period increased to AED814 million compared to AED480 million in the same period last year.

Dana Gas Chief Executive Officer, Ahmed Al-Arbeed, said: "I am very pleased to report that Dana Gas' net profits are up by an impressive 276 percent compared to the second quarter of 2010.  This excellent outcome is driven by the 20 percent increase in production from Egypt and the Kurdistan Region of Iraq and consequent increase in revenues accompanied by our tight control of costs throughout the organization."