LONDON - Dana Petroleum PLC said it is preparing to drill for oil in Ghana. It announced that a contract has been signed with Diamond Offshore to hire the Ocean Whittington semi-submersible drilling rig to undertake the second exploration well in the Western Tano Contract Area, offshore Ghana.

The targeted horizons have been evaluated from 3D seismic to have the potential to contain up to 100 million barrels of oil. Dana holds a 90% interest, it added.