DNO Makes Jurassic Discovery in Kurdistan's Tawke Field

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Norway's DNO International reported Tuesday a new oil discovery on its Tawke field in the Kurdistan region of Iraq. DNO said that its deep Tawke-17 well flowed oil from an Upper Jurassic reservoir at 1,500 barrels per day with an API gravity of between 26 and 28 degrees.

Meanwhile, DNO also reported that its Tawke-20 well – its first horizontal well in the Tawke fiel – has flowed an average of 8,000 barrels of oil per day from each one of the first four of 10 fractured corridors penetrated by the well. Testing continues on both wells.

DNO Executive Chairman Bijan Mossavar-Rahmani commented in a company statement:

"We are very pleased that initial Tawke-17 results are in line with the company's pre-drill estimates. This discovery in the Sargelu formation, over 200 meters below the main field Cretaceous reservoir, likely bumps recoverable reserves on the Tawke license to the one billion barrel mark."

Rahmani also confirmed that a second Tawke horizontal well continues on schedule.

"If this second well, Tawke-23, demonstrates the significant deliverability uptick we are now seeing in Tawke-20, we will go back to the drawing board and consider further enhancements to our current target of 200,000 barrels a day of production capacity by 2015."

DNO International holds a 55-percent interest in and operates the Tawke license. Genel Energy holds 25 percent, while the Kurdistan Regional Government holds the remaining 20 percent.



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