DNO International ASA - June & second quarter 2009 Production Report
(Thomson Reuters ONE) - ("DNO" or "the Company")DNO is pleased to report oil production for June and second quarter2009. Export of crude oil from the Tawke field commenced 1 June 2009and DNO's working interest production increased to 28,226 bopd inJune and to 16,815 bopd in second quarter 2009.Yemen productionDNO's working interest (WI) production from Yemen in second quarter2009 was 7,878 bopd, with DNO's net entitlement production being5,788 bopd. Average realized oil price in second quarter was USD59/bbl. The YTD production to DNO from Yemen continues to be in linewith management expectations.Production from Yemen is reported as follows: (Bopd) Q1 2009 June-09 Q2 2009 YTD-09 Gross field production 18,511 18,665 19,057 18,786 DNO's working interest (WI) 7,925 7,670 7,878 7,901 DNO's net entitlement (NE) 5,936 5,544 5,788 5,862 Achieved oil price (USD/bbl) 43 69 59 51The WI production figures include crude oil consumed in the operationof the Company's production facilities, at an accumulated volume of292 bopd in June 2009 and 284 bopd in Q2 2009.Tawke productionDNO's working interest (WI) production from Kurdistan in secondquarter 2009 was 8,937 bopd, with DNO's net entitlement productionbeing 5,965 bopdProduction from Tawke is reported as follows: (Bopd) Q1 2009 June-09 Q2 2009 YTD-09 Gross Tawke production 3,179 22,840 9,929 6,573 DNO's working interest (WI) 2,861 20,556 8,937 5,915 DNO's net entitlement (NE) 1,908 13,723 5,965 3,948The WI production figures include crude oil consumed in the operationof the Company's production facilities, at an accumulated volume of12 bopd in June 2009.Export of crude oil from the Tawke field commenced 1 June 2009, andgross production from Tawke in June was 22,840 bopd. Out of totalgross production, gross export volume from Tawke was 17,914 bopd.Local sales of crude oil to the domestic market is expected tocontinue along with export sale for the time being, and in June grosslocal sale contributed with 5,430 bopd. The decrease in stockincreased gross sale from Tawke with 518 bopd.The Tawke production and export has continued to increase in linewith the plan agreed with the KRG and North Oil Company (NOC) , andthe July month to date gross production from Tawke has beenapproximately 40,000 bopd, of which approximately 32,000 bopd havebeen delivered for export. The plan is to establish an export rate atfull capacity as quickly as possible in a safe and prudent manner,and it is expected that the Tawke production and export will continueto increase during the coming weeks. Fine-tuning and adjustments ofthe facilities are undertaken as required and the daily exportvolumes may therefore show some variation during the run-in period.DNO has been advised by KRG that a payment mechanism for exportedcrude oil from Tawke will be in place soon. Until this is determinedDNO will include its estimated share of revenues from such exports inthe Company's financial statements on net entitlement basis, applyingestimates for achieved oil prices, net of applicable discounts. The2009 second quarter financial results will include such estimatedrevenues for the month of June.Accounting for local area sales from the Tawke field will continue inline with the current financial reporting.DNO International ASA24 July, 2009Contact:Media:Helge Eide, MD DNO International ASA Telephone: +47 23 23 84 80Ketil 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 International Telephone: +47 23 23 84 80ASAThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 24.07.2009 - 08:42 Uhr
Sprache: Deutsch
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