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DNO ASA (DNO.OL)

DNO.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

BRIEF-DNO receives $34.75 million from KRG, to be shared with Genel
Thursday, 14 Sep 2017 02:00am EDT 

Adds missing word "million" in headline:Reports payment for Tawke deliveries.Reported receipt of usd 34.75 million from kurdistan regional government as payment towards june 2017 crude oil deliveries to the export market from the Tawke license.Funds will be shared pro-rata by dno and partner genel energy plc..  Full Article

DNO chairman expects rise in Kurdistan payments at year-end
Wednesday, 13 Sep 2017 08:19am EDT 

Sept 13 (Reuters) - Dno Asa Executive Chairman Bijan Mossavar-Rahmani told a conference on Wednesday::expects an increase of about 30 percent in payments from KRG for oil production at year-end.says "i think we should see in november a big bump".says when asked how much the firm expects to receive from KRG: "we said that production is 110,000 boepd, price is a $12 discount to the brent price".  Full Article

DNO joins Exxonmobil on Baeshiqa license in Kurdistan assumes operatorship
Thursday, 7 Sep 2017 09:07pm EDT 

Sept 7 (Reuters) - Dno Asa :Dno joins Exxonmobil on Baeshiqa license in kurdistan; assumes operatorship.Co will assume operatorship of license with 40 percent paying (32 percent net) interest, acquiring one-half of Exxonmobil's position.Pending government approval, DNO will drill exploration well H1 2018 with second exploration well to follow on separate structure.  Full Article

Oil firm DNO boosts stake in key Iraqi field Tawke to 75 pct
Thursday, 24 Aug 2017 03:54am EDT 

Aug 24 (Reuters) - DNO ASA :DNO INCREASES TAWKE STAKE; ANNOUNCES SETTLEMENT OF KURDISTAN RECEIVABLES.SAYS HAS BEEN ASSIGNED 20 PERCENT INTEREST IN TAWKE LICENSE HELD BY KURDISTAN REGIONAL GOVERNMENT AS PART OF A LANDMARK SETTLEMENT OF OUTSTANDING RECEIVABLES.FOLLOWING SETTLEMENT, DNO HOLDS A 75 PERCENT OPERATED STAKE IN LICENSE CONTAINING TAWKE AND PESHKABIR FIELDS.IN ADDITION TO 20 PERCENT INTEREST, COMPANY WILL RECEIVE THREE PERCENT OF GROSS LICENSE REVENUES EACH MONTH FROM GOVERNMENT OVER A FIVE-YEAR PERIOD.GOVERNMENT HAS ALSO DISCHARGED DNO FROM CERTAIN PAYMENT OBLIGATIONS INCLUDING PRODUCTION BONUSES.GOVERNMENT HAS ALSO DISCHARGED DNO FROM CERTAIN PAYMENT OBLIGATIONS INCLUDING PRODUCTION BONUSES, LICENSE FEES AND A USD 150 MILLION WATER PURIFICATION PROJECT THAT IS NO LONGER REQUIRED BY GOVERNMENT.DEAL WILL BOLSTER COMPANY'S BALANCE SHEET AND FUTURE CASH FLOW.SENDS A STRONG POSITIVE SIGNAL TO INVESTORS AND HELPS RESTORE CONFIDENCE IN KURDISTAN'S OIL SECTOR.DNO'S JUNE-JULY 2017 OUTSTANDING INVOICES FOR KURDISTAN EXPORTS WILL CONTINUE TO BE PAID UNDER PAYMENT ARRANGEMENT IN PLACE SINCE JANUARY 2016.  Full Article

DNO aims for 5 Norwegian explorations wells per year
Thursday, 24 Aug 2017 03:06am EDT 

Aug 24 (Reuters) - DNO ASA said on Thursday::The company will participate in Norway's two upcoming licensing rounds during the second half of the year.DNO's aim is to be among the most active explorers on the Norwegian Continental Shelf (NCS), targeting participation in five exploration wells per year.  Full Article

DNO swings into net loss in Q2, ups 2017 capex guidance
Thursday, 24 Aug 2017 02:41am EDT 

Aug 24 (Reuters) - DNO ASA :DNO Q2 REVENUE $81.7 MILLION (REUTERS POLL $81.9 MILLION).DNO Q2 NET RESULT $-12.9 MILLION (REUTERS POLL $30.6 MILLION) VS $14.7 MLN IN Q1 2017.DNO Q2 WORKING INTEREST PRODUCTION 69,121 BOEPD (REUTERS POLL 69,036 BOEPD).SAYS THE COMPANY WILL PARTICIPATE IN NORWAY'S TWO UPCOMING LICENSING ROUNDS IN THE AUTUMN AND EXPECTS TO ADD TO ITS 11 NORTH SEA LICENSES ACQUIRED EARLIER THIS YEAR.PLANNED 2017 CAPITAL EXPENDITURES HAVE BEEN INCREASED TO USD 130 MILLION, UP FROM GUIDANCE SET EARLIER THIS YEAR OF USD 100 MILLION.SAYS TWO WELLS PLANNED ONSTREAM IN PESHKABIR FIELD BY YEAR-END AND TWO ADDITIONAL WELLS PLANNED IN 2018.  Full Article

DNO received $39.59 mln Tawke funds
Wednesday, 9 Aug 2017 02:00am EDT 

Aug 9 (Reuters) - DNO Asa :Reports payment for Tawke deliveries.Today reported receipt of USD 39.59 million from Kurdistan regional government as payment towards May 2017 crude oil deliveries to the export market from the Tawke license..Funds, to be shared pro-rata by DNO and partner Genel Energy PLC<<>>, include USD 33.21 million towards monthly deliveries and USD 6.39 million towards recovery of outstanding receivables.  Full Article

DNO spuds third peshkabir well in kurdistan
Monday, 10 Jul 2017 02:00am EDT 

July 10 (Reuters) - Dno Asa ::Dno spuds third peshkabir well in kurdistan; resumes field appraisal following extended testing of cretaceous and jurassic reservoirs.Three Cretaceous productive horizons (Upper Shiranish, Lower Shiranish and Qamchuqa) tested 3,800 barrels of oil per day (bopd), 4,000 bopd and 1,100 bopd, respectively, of 28(o )API gravity crude oil during a two-week cased hole testing program in May. The Cretaceous column in the Peshkabir-2 well is estimated to range between 380-590 meters.  Full Article

DNO received $40.66 mln Tawke funds
Thursday, 6 Jul 2017 02:00am EDT 

July 6 (Reuters) - Dno Asa :Reports payment for tawke deliveries.Today reported receipt of $40.66 million from kurdistan regional government as payment towards april 2017 crude oil deliveries to export market from tawke license.Funds, to be shared pro-rata by dno and partner genel energy plc, include $34.10 million towards monthly deliveries and $6.56 million towards recovery of outstanding receivables.  Full Article

DNO completes Origo acquisition
Thursday, 29 Jun 2017 03:56am EDT 

June 29 (Reuters) - Dno Asa :Completes acquisition of Origo Exploration.Transaction has been approved by regulatory authorities in both norway and united kingdom.Rebranded dno norge as, company is now a wholly-owned, stavanger-based, subsidiary of dno.Following the acquisition, DNO returns to the North Sea with stakes in 11 exploration and appraisal licenses, of which seven are on the Norwegian Continental Shelf and four on the UK Continental Shelf.  Full Article

DNO, Genel strike oil sales deals with Iraqi Kurdistan, shares rise

OSLO/AMSTERDAM Norway's DNO and British-based Genel Energy, have struck deals with Iraq's Kurdistan Regional Government (KRG) to clear outstanding debt and restructure oil export payments, the oil companies said on Thursday.