DTNOF,, DNO.ol
It is not known that as of today the effects of the Turkey/Kurdistan possible war on Kurdistan oil production and the rights of DNO.ol to keep it's share of the oil production.. DNO.ol assumes that all agreements will be honored by the Irac authorities.. The field in Kurdistan is large in terms of a find and has many drill posibilities remaining.. hank
DNO SEPTEMBER AND Q3 PRODUCTION
DNO is pleased to announce that the accumulated
production to the Company in the 3rd quarter of
2007 was 1.8 million barrels, equivalent to 19,685
bopd, and the average achieved oil price was 58.10
USD per barrel.
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Working Interest
DNO`s oil production (WI) for July, August,
September and 3rd quarter 2007 is reported as
follows:
(bopd) September August July Q32007 YTD Q32007
Norway 1,170 1,114 952 1,078 888
Yemen 10,052 12,430 12,695 11,744 11,807
Kurdistan 7,943 6,871 5,810 6,863 2,313
Total 19,166 20,415 19,456 19,685 15,007
The combined NCS production from the Glitne and
Enoch fields increased by 5 percent in September.
In Yemen the Nabrajah field was shut down for 3
days and produced at reduced rates for 7 days in
September due to repair on the flare stack. This
resulted in the reduced production output quoted
for September. The Bayoot SW well # 3 in Block 53
was put on production towards the end of
September, producing at a gross flow rate of
around 1,600 bopd. The well will be shut-in for a
period in October for acquisition of reservoir
data before being brought on permanent production.
The Kurdistan test production is presented as
working interest including DNO entitlement to cost
oil, and the production from Tawke increased by 16
percent in September. The Tawke test production is
delivered directly from the well site at very low
costs. The test production will now be switched
from the upper reservoir to the lower reservoir.
This combined with the Id holidays following the
end of Ramadan, will result in lower test
production output from the Tawke field during
October.
As an integrated part of its operations, the
Company has during the past three years been
continuously monitoring all aspects of operating
in Northern Iraq in close cooperation with KRG.
Neither the past nor the recent geopolitical
events in the region has to date affected any of
DNO`s operations.
Net Entitlement
Net entitlement production for July, August,
September and 3rd quarter 2007 is shown in the
table below.
September August July Q32007 YTD Q32007
Norway 1,170 1,114 952 1,078 888
Yemen 6,055 7,935 7,945 7,263 8,228
Kurdistan 7,943 6,871 5,810 6,863 2,313
Total 15,168 15,747 14,697 15,204 11,428
The production figures (WI and net entitlement)
include crude oil consumed in the operation at
Tasour and Sharyoof, at an accumulated volume of
some 390 bopd during September 2007.
DNO ASA
19th October, 2007
Contact:
Media:
Helge Eide, MD DNO ASA
Telephone: +47 23 23 84 80
Ketil Jørgensen, Crux Communication (Norway)
Telephone: +47 930 36 866
Ben Willey, Buchanan Communications (UK)
Telephone: +44 207 466 5000
Investor Relations:
Haakon Sandborg, CFO DNO ASA
Telephone: +47 23 23 84 80
Robert Arnott, Advisor (UK)
Telephone: +44 207 839 7764
