Korea National Oil Corporation, or KNOC, the state-owned South Korean oil company, Friday declared its offer for Dana Petroleum PLC (DNX.LN) wholly unconditional and extended it until further notice.

MAIN FACTS:

-As at 1300 GMT on Sept. 23 KNOC either owned or had received valid acceptances of the share offer in respect of a total of 59.47 million shares, representing in aggregate 64.26% of the existing issued share capital of Dana.

-KNOC has received valid acceptances from Dana shareholders in respect of 32.17 million shares, representing 34.76% of the existing issued share capital of Dana.

-KNOC is waiving the 90% acceptance condition.

-All of the conditions of the offer have now been satisfied or waived.

-Dana shares closed Thursday at 1793 pence valuing the company at GBP1.66 billion.

-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com
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