The Aberdeen based energy firm Dana Petroleum which is in the target of a hostile takeover bid has reported rise in its profits in the first six months of this year.

Dana Petroleum Plc, a British oil and gas company, said today that it has agreed to acquire Petro Canada Netherlands from Petro Canada (International) Holdings, a subsidiary of Canada's Suncor Energy in a deal worth about £270 million. This is reported the biggest ever acquisition in the history of Dana.

Dana Petroleum said that the acquisition of Petro Canada would allow the company to boost its reserves and production.