DANA GAS PJSC

Ticker/ISIN

DANA

AED000701014

Market/Country

Abu Dhabi Stock Exchange

United Arab Emirates

Latest Pressrelease Summaries from DANA GAS PJSC

On 27 November 2024, Dana Gas PJSC held a board meeting from 09:12 AM to 12:00 PM, attended by all 11 board members, achieving full quorum. The board reviewed the company's operations in Egypt, the United Arab Emirates, and the Kurdistan Region of Iraq. They also examined the group's five-year business plan, approved the 2025 budget, and ratified the company's Q3 2024 financial statements. Other routine matters were also discussed. The authorized signatory for the meeting was Omran Al Zamani, the Board Secretary, with the meeting details disclosed on 28 November 2024.

Disclosures: DANA GAS PJSC Board Meeting Results held on 27/11/2024 at 09:12

23 days ago

Dana Gas PJSC has scheduled a board meeting for Wednesday, 27 November 2024, at 09:00 AM. The agenda includes discussions on the company's operations in Egypt, the United Arab Emirates, and the Kurdistan Region of Iraq, approval of the company's 5-year business plan and 2025 budget, ratification of the Q3 2024 financial statements, and other routine matters. The disclosure is authorized by Omran Al Zamani, the Board Secretary, with the document dated 22 November 2024.

Disclosures: DANA GAS PJSC Announcement of Board Meeting to be held on 27/11/2024 at 09:00

a month ago

Dana Gas reported a net profit of AED 410 million ($112 million) for the first nine months of 2024. Key highlights include a 3% increase in production in the Kurdistan Region of Iraq (KRI) to 38,200 barrels of oil equivalent per day, and an increase in collections to AED 872 million ($238 million) compared to AED 612 million ($167 million) in the same period of 2023. The company reduced its corporate debt from AED 396 million ($108 million) to AED 102 million ($28 million). Revenue for the period was AED 1,048 million ($286 million), a 12% decline from the previous year due to lower prices in the condensate and LPG segments and a production decline in Egypt. Dana Gas is focused on cost and production optimization, particularly in KRI, to mitigate financial challenges. The company plans to resume full-scale construction activities at the KM250 plant, with Pearl Petroleum overseeing the project. Pearl raised $350 million through a bond issue to fund the KM250 expansion, which is expected to boost production capacity significantly. In Egypt, a new Concession Agreement was ratified, consolidating existing concessions into a unified framework with improved terms, committing Dana Gas to significant development and exploration efforts.

Disclosures: DANA GAS PJSC Press Release on the Financial Results for the Period Ended September 30,2024

a month ago

On 25 September 2024, Dana Gas PJSC held a board meeting from 11:02 AM to 2:00 PM with all 11 board members present, achieving a 100% quorum. The board reviewed the company's operations in Egypt, the United Arab Emirates, and the Kurdistan Region of Iraq, and discussed financing options. They also ratified the Q2 financial statements and considered other routine matters. The meeting's decisions and resolutions were documented by Omran Al Zamani, the Board Secretary, on 26 September 2024.

Disclosures: DANA GAS PJSC Board Meeting Results held on 26/09/2024 at 11:02

3 months ago

Dana Gas PJSC will hold a board meeting on Wednesday, 25 September 2024, starting at 11:00 AM. The agenda includes discussions on the company's operations in Egypt, the United Arab Emirates, and the Kurdistan Region of Iraq, a report on financing options, the ratification of Q2 2024 financial statements, and other routine matters. The meeting details were authorized and signed by Omran Al Zamani, Board Secretary, on 20 September 2024.

Disclosures: DANA GAS PJSC Announcement of Board Meeting to be held on 25/09/2024 at 11:00

3 months ago

On September 10, 2024, Dana Gas announced that Pearl Petroleum Co. Ltd has initiated arbitration proceedings against Enerflex, the EPC contractor for the KM 250 project, following performance issues. Pearl Petroleum terminated the contract with Enerflex on August 19, 2024, and the termination took effect on September 9, 2024. The arbitration seeks to recover costs and damages due to Enerflex's defective performance. Pearl Petroleum is committed to completing the project and safeguarding stakeholder interests, with Dana Gas promising to update the market on the new expected completion date.

Disclosures: THIS DISCLOSURE IS MADE PURSUANT TO ARTICLE 33 OF THE REGULATIONS OF THE ABU DHABI STOCK EXCHANGE AS TO DISCLOSURE AND TRANSPARENCY

3 months ago

Dana Gas (PJSC) has announced that Pearl Petroleum Co. Ltd has issued a notice of termination to Enerflex, the EPC contractor for the KM 250 project, due to numerous performance issues. These issues have caused significant delays and hindered the progress of the Khor Mor gas expansion project in the Kurdistan Region of Iraq. As a result, Pearl Petroleum will take direct control of the remaining phases of the project to ensure its timely completion. Pearl also reserves the right to claim potential damages under the contract.

Disclosures: THIS DISCLOSURE IS MADE PURSUANT TO ARTICLE 33 OF THE REGULATIONS OF THE ABU DHABI STOCK EXCHANGE AS TO DISCLOSURE AND TRANSPARENCY

4 months ago

On 12 June 2024, Dana Gas PJSC held a board meeting from 11:03 AM to 2:00 PM with all 11 board members present, achieving 100% quorum. The Board reviewed the company's operations in Egypt, the United Arab Emirates, and the Kurdistan Region of Iraq, ratified the Q1 financial statements, and considered other routine matters. The meeting's decisions and resolutions were signed by Omran Al Zamani, the Board Secretary, on 13 June 2024.

Disclosures: DANA GAS PJSC Board Meeting Results held on 12/06/2024 at 11:03

6 months ago

Threads

Page 4

Abu Dhabi Stock Exchange News

News Update From DANA GAS PJSC 9 months ago

Disclosures: Clarifying disclosure regarding the approval of agencies

1. Attached Document

Abu Dhabi Stock Exchange News

News Update From DANA GAS PJSC 9 months ago

Disclosures: Announcement of opening nominations for Board membership

1. Attached Document

Abu Dhabi Stock Exchange News

News Update From DANA GAS PJSC 9 months ago

Disclosures: DANA GAS PJSC Article of Association Amendment

1. Attached Document

Abu Dhabi Stock Exchange News

News Update From DANA GAS PJSC 9 months ago

Disclosures: DANA GAS PJSC Invitation to Attend AGM held on 17/04/2024 at 11:00

1. Attached Document

Abu Dhabi Stock Exchange News

News Update From DANA GAS PJSC 9 months ago

ADX Disclosures: DANA Resumption Notice

1. Attached Document

Abu Dhabi Stock Exchange News

News Update From DANA GAS PJSC 9 months ago

Disclosures: DANA GAS PJSC Board of Directors' Report for the Period Ended December 31,2023

1. Attached Document

Abu Dhabi Stock Exchange News

News Update From DANA GAS PJSC 9 months ago

Disclosures: DANA GAS PJSC Financial Results for the Period Ended December 31,2023

1. Attached Document

Abu Dhabi Stock Exchange News

News Update From DANA GAS PJSC 9 months ago

Disclosures: DANA GAS PJSC Board Meeting Results held on 13/03/2024 at 11:04

On 14th March 2024, Dana Gas PJSC held a meeting to review the company's operations in Egypt, UAE, and Kurdistan Region of Iraq during 2023. The board approved the 2023 Reserves Report, the Directors' Report on the company's activities and financial position, and the financial statements for 2023. The auditor's report was also considered. The board decided to hold the Annual General Meeting of Shareholders on 17th April and a second call on 24th April 2024. The board recommended not distributing dividends for the financial year 2023 but will consider a special dividend upon collection of receivables. A proposed amendment to the Articles of Association was recommended for approval by the General Assembly to ensure at least one-third of directors are independent. Other routine matters were also considered.

1. Attached Document

Abu Dhabi Stock Exchange News

News Update From DANA GAS PJSC 9 months ago

ADX Disclosures: Temporary suspension of trading on the shares of DANA GAS PJSC on 13 Mar 2024

Resolution No. (320) of 2024 announces the temporary suspension of trading on the shares of DANA GAS PJSC. This is due to a Board of Directors meeting scheduled for 11:00 on the 13th of March, 2024, which coincides with the trading session at ADX. Therefore, trading in DANA shares will be suspended from 09:00 on the same day until ADX receives the meeting results. The resolution also calls for all heads of departments in ADX to execute this resolution in their respective fields. The resolution is to be circulated to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was issued on the 8th of March, 2024.

1. Attached Document

Abu Dhabi Stock Exchange News

News Update From DANA GAS PJSC 9 months ago

Disclosures: DANA GAS PJSC Announcement of Board Meeting to be held on 13/03/2024 at 11:00

Dana Gas PJSC has scheduled a board meeting for 13th March 2024. The meeting will discuss the company's operations in Egypt, the United Arab Emirates, and the Kurdistan Region of Iraq, as well as the Directors' Report and auditor's report for 2023. The Financial Statements for 2023 and a proposal not to distribute dividends for the same year will also be discussed. Other topics include the 2023 Reserves Report, a proposed amendment to the Articles of Association, and an invitation to the Annual General Meeting of Shareholders in April 2024. The meeting will be authorized by Omran Al Zamani, the Board Secretary.

1. Attached Document

Page 4