2009-08-13-2009-04-01

To purchase 50% stake in Licence P.212, Block 211/8a, and License P.296 Block 211/13a in the northern North Sea including Penguin Field.

Valiant Petroleum Plc (London: VPP) plans to acquire a 50% stake in Licence P.212, Block 211/8a, and License P.296 Block 211/13a in the northern North Sea, from Dana Petroleum (E&P) Ltd. for an undisclosed price. The licenses include Penguin Field, excluding Penguin West and Penguin East, which contain the Banquo and Helena undeveloped discoveries. Valiant is currently operator on both and following completion will hold 100% interest. Valiant intends to seek a strategic partner to help develop the discoveries.