Dana Petroleum Plc, Aberdeen, U.K., (London: DNX) plans to acquire the Egyptian assets of Devon Energy Corp., Oklahoma City, (NYSE: DVN) for US$375 million in cash, including US$67 million in net working capital as of Dec. 31. Devon's Egyptian assets include interests in 89 producing wells in eight concessions, in which the East Zeit, Quarun, East Beni Suef and West Abu Gharadig concessions are producing. Production is approximately 12,500 barrels of oil per day. Proved and probable reserves are approximately 30 million barrels.
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