February 2006 Production
DNO's achieved an oil production (working interest [WI]) of 16,929 barrels of oil per day (BOPD). This figure represents a 17.4-percent increase from February 2005. In addition, the company repors that the 2006 year-to-date oil production shows a 21.4-percent increase compared to YTD 2005.
The net oil production to DNO (WI) from Norway and Yemen was as follows (BOPD):
February 2006 2006 YTD Norway 1,199 1,187 Yemen 15,730 16,139 Total 16,929 17,326
The February 2006 production decreased by 754 BOPD compared to January. The decline stems primarily from well repair work at the Tasour Field in Yemen and a planned shutdown at the Glitne Field. These activities extended into March and will impact the March production. Both fields are now back on full production, though.
The Nabrajah Field delivered a stable oil production of more than 11,000 BOPD (gross) in February 2006. Nabrajah #5, the Basement oil producer, is currently delivering a production of approximately 5.300 BOPD (gross) under natural flow and zero water cut. Work is underway to increase the capacity of existing wells at Nabrajah by increasing water handling capabilities and installing gas treatment and injection facilities.
The next two wells on Nabrajah will be drilled in the Nabrajah #5 fault terrace. Their primary objective will be to increase Basement production.
Yemen Drilling and Testing
The test performed in the Basement and Kohlan intervals in Nabrajah #9 failed to flow oil to surface.
New License in Yemen
DNO has secured a 35-percent working interest and operatorship in Block 47 in Yemen. The concession is located immediately to the east of Block 43 and extends to the coast.
Partners in Block 47 are DNO (35 percent interest, operator), Oil & Gas Mine Co. (OGMC) (35 percent), and The Yemen Co. (TYC) (30 interest, 12.5 percent carried). Seismic acquisition is planned within the license in 2006.
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