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Exploring for Oil & Gas in Bakassi UK-Cameroon Trade and Investment ForumLondon, 7 May 2014

1Were a $3bn oil and gas exploration and production company. Formed in 1994, Dana is now part of the Korea National Oil Corporation (KNOC).

Our ambition is to become a leading international oil and gas company operating in Europe, Africa and the Middle East.

We aim to grow production significantly by investing up to $5 billion over the next five years.

Dana at a glance

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Norway 1,500 barrelsWe have interests in 13 exploration licences and are operator of three UK 33,000 barrelsOur UK portfolio consists of 28 operated and 47 non-operated licencesNetherlands 10,700 barrelsWe operate nine licenses including the De Ruyter, Hanze, Van Ghent and Van Nes fields, and have interests in 24 non-operated licences.Egypt 10,000 barrelsWe have a balanced portfolio of operated and non-operated developments in the Gulf of Suez, the Nile Delta and the Western Desert. Mauritania We operate Block 7 where we have made 4 discoveriesCameroon We operate a Production Sharing Contract (PSC) in the Bakassi West blockGuineaWe have a 23% stake in a very large PSC located offshore Guinea.Where we work 3Production Sharing Contract for Bakassi West signed in June 2012Co-venturers are Dana (55%), Madison (35%) and SoftRock (10%)Currently acquiring 350km of 2D seismic data Plan to drill first exploration well in late 2015 or early 2016Will invest $50 to $80 million in Bakassi West in the period 2013 to 20164Insert more detailed location map here

Bakassi PeninsulaOur activities in Cameroon

4Our activities in Cameroon 5

Reconnaissance Seismic Survey layoutMangrove Environment

5Operations in Bakassi Seismic base camps in Issobo fully operational BGP (seismic contractor) employing around 350 Cameroonian nationals; around 30% of these from Bakassi itself Completion of seismic acquisition expected August 20146

Base CampField OperationsField Operations6Danas concerns prior to investing in CameroonSecurity Location and logisticsEnvironmental protection and social investment Corruption 771. Security 8

Control RoomEscort BoatsField Protection

Security Base82. Location and logistics 9

Mangrove with no InfrastructureControl RoomWorking with the community leaders Typical HabitationWorking with the community 93. Environmental protection and social investment 10

Typical mangrovesWorking alongside the local fishermenInvestment in schoolsLine clearance kept to a minimum104. Corruption 11

Danas Values

Integrity is one of Danas values we do not pay bribes UK Anti-Bribery and Corruption Law (UK Bribery Act)Supporter of the Extractive Industries Transparency Initiative (EITI) Cameroon is EITI compliant since 2013Supporter of the UN Global Compact Business Coalition Against Corruption

11The Business Coalition Against Corruption 12STRUCTURE Public-private partnership, working with the German Development Agency Deutsche Gesellschaft fr Internationale Zusammenarbeit (GIZ)

COMMITMENTTo support Cameroon Government's National Strategy for the fight against corruption; by "sensibly reducing the intensity of corrupt practices and similar acts in the Private Sector in its Private Sector Development Pillar.

12Current BCAC membership 13

13BCAC Contact Mrs Rose-Patricia YONDO

Project ManagerBusiness Coalition Against Corruption in Cameroon

Business Council for Africa CameroonVilla "les Cocotiers" - BAT Compound, BastosBP: 16558 YaoundTel: 50 04 67 67E-mail: bcac.cameroon@gmail.com

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14Cameroons business environment - in summary Strengths

Stable economically and politicallyVery friendly Generally safe Excellent education system providing a well educated, hard working workforceGovernment committed to assisting inward investmentGood external and internal air links Great support in country from Brian Ollie and the British High CommissionStrong commitment to anti-corruption practices, led by the Prime Minister and supported by companies operating in Cameroon15Weaknesses

Internal infrastructure, including road and rail network, is not well developedRed tape could (and should) be reduced.

15Thank you