LONDON (Reuters) - Dana Petroleum has raised 56 million pounds ($86 million) to help fund its 2009 capex programme, as the London-listed oil and gas explorer predicted production would be at the lower end of previous guidance.

The company placed 4.34 million shares, or about 5 percent of its share capital, at a price of 1,290 pence per share, it said Tuesday.
Dana said the money raised in the placing would give it flexibility as it looks to increase its bank facility to 400 million pounds from 300 million.
It plans to spend 244 million pounds in 2009 on its existing fields and licenses, with 17 exploration wells slated to be drilled.
In a separate interim management statement, Dana said average output for 2009 is expected to be towards the lower end of its previous guidance of between 43,000 to 47,000 barrels of oil equivalent per day (boepd).
Dana also said on Tuesday it had found more gas condensate at its Fulla field in Norway after the successful drilling of a second well.
Proven volumes for the two wells are currently estimated at 60 million to 105 million barrels of oil equivalent.
“Given Fulla’s close proximity to existing infrastructure, we look forward to the early consolidation of development options,” said Dana Chief Executive Tom Cross.
At 0945 GMT, Dana stock was trading down 1.37 percent at 1,300 pence, while the wider FTSE 250 index for mid-caps was up 1.88 percent. ($1=.6516 Pound)