KNOC buys 29.5 percent chunk of Dana | Reuters

Employees of Korea National Oil Corp (KNOC) are seen reflected on the logo of the company's commute bus as they walk across a parking lot at KNOC's headquarters in Anyang, southwest of Seoul September 8, 2010.

Credit: Reuters/Jo Yong-Hak

LONDON | Fri Sep 17, 2010 2:21pm BST

LONDON (Reuters) - State-run Korea National Oil Company KOILC.UL said it had bought a 29.5 percent stake in Dana Petroleum (DNX.L), bringing it a step nearer to success in its hostile bid for the UK-listed oil and gas explorer.