DNO International ASA - Results for the third quarter 2009
(Thomson Reuters ONE) - Oslo, 11 November 2009: DNO International ASA (OSE: DNO) todayannounces its results for the third quarter and YTD 2009.The total operating revenues in the third quarter increased to NOK950 million, up from NOK 324.5 million in the third quarter 2008.Export revenues from Tawke field are estimated to be approximatelyNOK 714 million in the third quarter. An increase in oil prices inthe quarter also contributed to the higher operating revenues.For the first nine months of 2009, operating revenues were NOK1,492.3 million, up from NOK 1,158.9 million year-on-year. Thecontribution from export sale on the operating revenues wasapproximately NOK 843 million year-to-date.A provision of NOK 396 million has been made in the third quarter foraccounting purposes to reflect outstanding payment issues and otherpotential items."During the third quarter we delivered strong operational results.The working interest production averaged at 44,500 bopd resultingfrom the commencement of export of oil from the Tawke field. We arealso pleased to note that the Bayoot development in Yemen is in linewith the plan and that the production from the field is steadilyincreasing, said Helge Eide, Managing Director.He continues: We recommenced exploration activities both in Yemen andMozambique during the third quarter. However, the combinedexploration and development expenditures dropped significantlycompared to last year as a result of lower activity, and the Companyremains focused on tight capital discipline,"The operating profit (EBIT) in the third quarter amounted to NOK148.3 million (NOK 26.9 million). In the first nine months of 2009,EBIT ended at NOK 188.8 million (NOK 306.3 million).The cash flow in the period, represented by netback, amounted to NOK313.5 million (NOK 64.5 million), and for the first nine monthsnetback amounted to NOK 506.3 million (NOK 481.4 million).The net profit was NOK 45.0 million in the third quarter (NOK -2.6million). Year-to-date net profit was NOK 413.9 million (NOK 73.3million).For full interim report, please see the attachments on www.newsweb.noand www.dno.no.DNO will give a presentation of the interim financial statements forthe third quarter 2009. The presentation will be held on Wednesday 11November 2009 at 08:00 A.M. in the "Lille Sal" at Oslo Konserthus,Munkedamsveien 14.The presentation can also be followed live on the Internet, via avideo webcast at www.dno.no. An archived version of the webcast willbe posted on www.dno.no shortly after the presentation. Thepresentation will be given in English.DNO International ASAOslo, 11 November 2009For further information, please contact;Media contacts:Helge Eide, Managing Director, DNO International ASA; +47 23 23 84 80Ketil Jørgensen, Crux Kommunikasjon (Norway); +47 930 36 866Ben Willey, Buchanan Communications (UK); +44 207 466 5000Investor Relations contact:Haakon Sandborg, CFO, DNO International ASA; +47 23 23 84 80http://hugin.info/36/R/1354146/328205.pdfhttp://hugin.info/36/R/1354146/328207.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 11.11.2009 - 07:30 Uhr
Sprache: Deutsch
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