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DNO.OL on Oslo Stock Exchange

24 Mar 2017
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Latest Key Developments (Source: Significant Developments)

DNO expects Peshkabir output to start by the end of 2017
Thursday, 9 Feb 2017 04:30am EST 

DNO Asa : Chairman Bijan Mossavar-Rahmani says DNO expects production at Peshkabir field in Iraq's Kurdistan region to start by the end of 2017 from at least one well . DNO operates and holds a 55 percent working interest in the Tawke license which holds the Peshkabir field. Genel Energy plc and the Kurdistan Regional Government hold a 25 percent and 20 percent interest, respectively Further company coverage: [DNO.OL] (Reporting by Nerijus Adomaitis, editing by Terje Solsvik) ((terje.solsvik@thomsonreuters.com;)).  Full Article

DNO posts Q4 operating loss of $27.6 million, updates on reserves
Thursday, 9 Feb 2017 02:02am EST 

DNO ASA : DNO Q4 revenues $41.7 million (Reuters poll $58.7 million) . DNO Q4 operating loss $27.6 million (Reuters poll $12.7 million profit) . DNO Q4 net loss $31.2 million (Reuters poll $7.74 million profit) . Company Working Interest (CWI) production stood at 71,373 boepd in Q4 vs 87,463 boepd in Q4 2015 . Says considering three additional wells at Tawke field to raise production above current levels of around 115,000 barrels of oil per day (bopd) . The company plans to drill a third well at Peshkabir and an appraisal/production well at the Benenan field in the Erbil license . As of 31 December 2016, DNO's working interest (CWI) 2P reserves and 2C resources estimated at 529.6 mmboe . At Tawke, 2P reserves and 2C resources stood at 604.0 million barrels (mmbbls) at year-end 2016, down from 643.2 mmbbls at year-end 2015 . International petroleum consultants DeGolyer and MacNaughton carried out the annual independent assessment of the Tawke field, DNO internally evaluated the remaining assets .Planned 2017 capital investments are estimated at $100 million, and include four new production wells at Tawke.  Full Article

Kurdistan updates on Kurdistan operations
Wednesday, 12 Oct 2016 04:01am EDT 

Genel Energy Plc : Kurdistan operational update . Notes announcement from DNO ASA that three new production wells have been completed at Tawke field in Kurdistan region of Iraq . Tawke-31 well, targeting main cretaceous reservoir will be brought on production following an acid stimulation program . Two additional wells targeting shallow jeribe reservoir, Tawke-33 and Tawke-34, are also being readied for production . Further jeribe well, tawke-37, will be spudded next week . Four wells are expected to cost less than $20 million in total and add about 10 percent to field output capacity .Tawke production during q3 averaged 109,159 bopd, of which 108,759 bopd was delivered for export through turkey..  Full Article

Genel Energy notes KRG's July payment on Tawke field
Monday, 3 Oct 2016 02:46am EDT 

Genel Energy Plc :Notes announcement from DNO ASA that Tawke field partners have got payment of $37.40 million from Kurdistan Regional Government for July.  Full Article

DNO Q2 operating result in line with forecast
Thursday, 18 Aug 2016 02:00am EDT 

: DNO Q2 revenues $61 million (Reuters poll $62.9 million) . DNO Q2 operating result $16 million (Reuters poll $15.2 million) .DNO says five Tawke production wells, including three deep cretaceous and two shallow jeribe wells, are planned in the second half of 2016 to boost capacity from 120,000 bopd to 135,000 bopd..  Full Article

Gulf Keystone says reviewed DNO ASA's offer; to focus on restructuring
Friday, 29 Jul 2016 12:02pm EDT 

Gulf Keystone Petroleum Ltd : Reviewed DNO ASA's proposal to acquire total share capital of company, which it received by letter late on 28 July 2016 . Gulf Keystone notes that DNO's proposal is conditional upon successful completion of ongoing balance sheet restructuring transaction . Will not engage in any additional process that causes company to be distracted from that objective . Board continues to strongly recommend that shareholders vote in favour of resolution to authorise increase in company's share capital . Board has concluded that completion of restructuring best serves our stakeholders .Company has responded to DNO accordingly..  Full Article

Gulf Keystone confirms receipt of Norway's DNO ASA proposal
Friday, 29 Jul 2016 05:04am EDT 

Gulf Keystone Petroleum Ltd : Gulf keystone confirms that it has received a proposal from DNO ASA .Board of Gulf Keystone is currently reviewing this proposal and will update market on its response in due course.  Full Article

DNO says expects Tawke production to climb to 135,000 bopd by mid-year
Thursday, 11 Feb 2016 02:01am EST 

DNO ASA:Expects Tawke production to climb from 120,000 barrels of oil per day (bopd) to 135,000 bopd by mid-year, with further increases to follow as additional investments made.  Full Article

DNO says received another payment from Kurdish authority
Wednesday, 6 Jan 2016 02:00am EST 

DNO ASA:‍Says confirmed receipt of $30 million as partial payment towards oil exported from Tawke field by the Kurdistan Regional Government.‍Says the payment, to be shared pro-rata with tawke license partner Genel Energy plc, is fourth such monthly payment since September 2015​.  Full Article

DNO ASA initiates share buyback programme
Tuesday, 15 Dec 2015 02:00am EST 

DNO ASA:Initiated a new share buyback program and on Dec. 14 purchased 1,500,000 own shares at a price of 6.2237 crowns per share.Buyback program is pursuant to a shareholder vote at annual general meeting of May 28 may authorizing DNO to purchase up to 108,381,416 own shares.  Full Article

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Norway's DNO signs Iran oil field deal

Nov 16 Norwegian oil and gas company DNO is to study the development of an oil field in Iran, becoming the second western company after France's Total to sign an energy deal in the country since the lifting of sanctions.