DNO International ASA - Stock Exchange Release from Audax Resources
LTD
(Thomson Reuters ONE) - DNO International ASA("DNO" or "the Company")Reference is made to a stock exchange release issued by AudaxResources LTD ("Audax") to the Australian Stock Exchange (ASX) on 16October 2009, confirming that DNO and Audax have signed a letter ofintent on the Chorbane Exploration Permit in Tunisia.Audax is an oil, gas, gold and base metal exploration company withoperated assets in Australia, Italy and Tunisia. The company isheadquartered in Perth, Western Australia and is listed on theAustralian Stock Exchange. A second technical office is operated outof Vienna, Austria.Audax is the operator and holds a 100% interest for the ChorbaneExploration Permit onshore Tunisia. Under the LOI, DNO would earn a50% interest in the Permit by paying 100% of the costs for the firstexploration well. The LOI is subject to a number of conditionsprecedent including the signing of a farm in agreement. The executionof the farm in agreement would be subject to board approval, allnecessary government authorizations and formal documentation.The forward work commitment for the Chorbane permit requiresreprocessing of 1000km of 2D seismic processing and the drilling ofone exploration well.DNO International ASA16 October 2009Contacts: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(UK) 5000Investor 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: 16.10.2009 - 08:05 Uhr
Sprache: Deutsch
News-ID 6983
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