DNO International

Latest DNO International News

• The revised figure for oil, an increase of 35 percent over the 31 December 2011 estimate, incorporates data from wells recently completed or underway at the Tawke field located in the Kurdistan region of Iraq.
• DeGolyer and MacNaughton's 31 March 2012 estimate of Tawke's gross ultimate proved plus probable reserves is 771 million barrels versus 615 million barrels at 31 December 2011.

• DNO International has a strong commitment to build on its successes in the Kurdistan Region of Iraq by expanding the size and scale of its exploration, development and production operations.

• The Company ended the year with a cash position of NOK 1,752 million.

• Operating revenue for Q4 2011 was around NOK 900 million and DNO expects to report full year 2011 operating revenue of around NOK 2 billion, up 65 per cent from the previous year and a record for the company.

• Norwegian company DNO has provided an update on its drilling activity in the Kurdistan region of Iraq.

• DNO's working interest (WI) production from Yemen in December 2011 was 4,562 bopd and the NE production was 2,584 bopd. In the fourth quarter of 2011 DNO's WI production was 4,311 bopd and the NE production was 2,424 bopd.

• DNO's working interest production from Yemen in October 2011 was 3,986 bopd and the NE production was 2,222 bopd.
• DNO's WI production from the Tawke Field in October 2011 was 26,649 bopd and 2011 YTD production from Kurdistan was 35,517 bopd.

• Permit covers an area of 2,064 km2

• Commences cash sales to Kurdistan local market

• DNO International receives a second payment of USD 60 million from the Kurdistan Regional Government in respect of oil exports from the Tawke field operated by the Company in northern Iraq
• A first payment of USD 103.7 million was received in June 2011
• The Company had previously reported temporary reductions in production from the Tawke field to permit field performance evaluation
• DNO has initiated efforts towards oil sales to regional refineries, a program that had been successfully implemented previously, but terminated when all production was earmarked for export in early February this year

DNO International Who's Who

DNO International Offices