DNO is pleased to announce that the accumulated production to DNO for
October and November 2007 was 960,000 barrels, equivalent to 15,733
bopd.
Working Interest
DNO's oil production (WI) for October and November 2007 is reported
as follows:
(bopd) October November YTD 2007
Norway * 843 - 804
Yemen 11,107 11,391 11,705
Kurdistan 2,293 5,882 2,632
Total 14,243 17,273 15,141
*) Production in Norway is as of November 2007 included in Det norske
oljeselskap ASA (previous Pertra ASA), which is an associated company
to DNO ASA. DNO's share of the production from Det norske
oljeselskap ASA in November was 540 bopd (36.7%) and is classified as
associated production. Going forward, DNO's share of the results in
Det norske oljeselskap ASA will be shown as a separate P&L-item. For
the 4th quarter 2007, DNO ASA will as previously reported show a
substantial positive P&L effect from the integration agreement
between Det norske oljeselskap ASA and NOIL Energy ASA.
In Yemen, the Bayoot SW # 2 and Bayoot SW # 3 - both in block 53 in
Yemen, were shut down for the second half of November due to pressure
build-up for reservoir evaluation purposes. Sharyoof # 28, also in
block 53 was successfully brought on production from mid November at
an initial gross flow rate of approximately 3,000 bopd (DNO's share
is 950 bopd).
The Kurdistan test production is presented as working interest
including DNO entitlement to cost oil. The Tawke test production is
delivered from the well site at very low cost. The drop in Tawke
production in October is due to the Id holidays and switch of test
production to the lower reservoir. It is expected that there will be
lower production from Tawke during second half of December due to the
holiday season.
Net Entitlement
Net entitlement production for October and November 2007 is shown in
the table below.
October November YTD 2007
Norway 843 - 804
Yemen 6,791 6,948 7,979
Kurdistan 2,293 5,882 2,632
Total 9,928 12,830 11,415
The production figures (WI and net entitlement) include crude oil
consumed in the operation of the company's production facilities, at
an accumulated volume of 287 bopd in October and 440 bopd in November
2007.
DNO ASA
21st December, 2007
Contact:
Media:
Helge Eide, MD DNO ASA Telephone: +47 23 23 84 80
Ketil Jørgensen, Crux Communication Telephone +47 930 36 866
(Norway)
Ben Willey, Buchanan Communications Telephone: +44 207 466 5000
(UK)
Investor Relations:
Haakon Sandborg, CFO DNO ASA Telephone: +47 23 23 84 80
Robert Arnott, Advisor (UK) Telephone +44 207 839 7764
