DNO in Q2 2011: A record breaking operational performance
(Thomson Reuters ONE) -
DNO International showed strong performance in the second quarter of 2011 with a
working interest production of 48,582 barrels of oil per day (bopd), doubling of
the reserves at the Tawke field and good financial performance.
Sales recognized in the second quarter this year increased to NOK 732 million,
up from NOK 284.7 million in the same quarter 2010. EBITDA was NOK 564.9 million
in this quarter, up from NOK 171.2 million in the second quarter last year.
"DNO International achieved strong results so far this year. The excellent
reservoir quality of the Tawke field in the Kurdistan Region of Iraq has been
proved through stable high production in the first half of 2011. I am also very
satisfied with our Yemen team that has maintained our planned production level
and good cash flow despite the difficult situation in the country", says
Managing Director Helge Eide.
"The reported cash position of NOK 1.25 billion at the end of the second quarter
and the additional NOK 521 million in proceeds from the today announced sale of
shares in Det norske oljeselskap ASA provides a rock solid financial platform
for further development and growth of DNO International", says Eide.
See the attached full press release and Q2 presentation material for more
information.
Oslo, 17 August 2011
DNO International ASA
Corporate Communications
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
DNO Q2 2011 Quarterly report:
http://hugin.info/36/R/1538875/470087.pdf
DNO Q2 2011 Press release:
http://hugin.info/36/R/1538875/470088.pdf
DNO Q2 2011 Webcast presentation:
http://hugin.info/36/R/1538875/470086.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: DNO International ASA via Thomson Reuters ONE
[HUG#1538875]
Unternehmensinformation / Kurzprofil:
Datum: 17.08.2011 - 07:31 Uhr
Sprache: Deutsch
News-ID 57305
Anzahl Zeichen: 2504
contact information:
Town:
Oslo
Kategorie:
Business News
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