E.ON AG (EOAN.XE) said Monday its exploration and production unit has found natural gas in a UK North Sea field, which the German utility jointly owns with Dana Petroleum E&P, a wholly owned subsidiary of Korea National Oil Company.

MAIN FACTS:

-E.ON has encountered gas on the UK Tolmount prospect.

-The discovery is located in Block 42/28d in the UK Southern North Sea to the west of the E.ON-operated Babbage gas field.

-The Tolmount license is operated by E.ON with Dana Petroleum E&P, a wholly owned subsidiary of Korea National Oil Company, as partner. Both companies have 50 percent in the license.

-The well targeted the Permian Leman Sandstone Formation and encountered a gas column in excess of 200 feet.

-The well test flowed at a maximum stable rate of 50 million standard cubic feet of gas per day.

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