DNO Says Jaguar Well Dry

DNO says that the 211/22b-5 well located on the Jaguar prospect on the UK continental shelf has been drilled into the top of the Middle Jurassic using the Bredford Dolphin. The main target for the well was the Upper Jurassic Jaguar sands. This objective zone has been drilled without any indications of commercial hydrocarbons. This result is yet to be confirmed by wireline logging.

However, drilling is continuing to TD followed by a wireline logging program in order to fully evaluate the hydrocarbon prospectivity of the underlying formation. A further announcement will be made when this has been completed.

As previously announced, DNO retained a 50% working interest on the Jaguar prospect, contributing to 77.1% of the total well cost. DNO's partners on the well were Rocksource ASA with a 10% working interest and 15.42% contribution to well cost and Elixir Petroleum with a 40% working interest and a 7.5% contribution to well cost.

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