DNO has reported the production figures for July and year to date.
DNO's Working Interest (WI) production is for the third month in a row above 20,000 bopd. DNO's WI production in July decreased slightly to 20,584 bopd from the peak production in June of 22,545 bopd. WI production for July 2008 is up 21 % compared to July last year.
DNO's oil production (WI) was reported as follows:
(Bopd) Q1 2008 *) Q2 2008/July 2008/YTD 2008
The KRG has temporarily put on hold all the production for the local market in the Kurdistan Region, to enable the local authorities to review the licensing, compliances and uniformity of procedures applied to the small topping plant owners in order to regulate the manner that crude oil is supplied to them, including the crude oil
To some extent this effected the production in July and based on the timing indicated by KRG there will be no production from Tawke in August. As previously reported key objectives for the test production which commenced June 2007 was preparing for export of oil as well as to gather reservoir information during production as early as possible to further optimize the production strategy and reservoir management of the field. The period during no test production provides a unique opportunity to acquire updated static pressure
The July and year to date net entitlement production and achieved oil price will be reported in mid-September together with the August production and drilling report.
An update of the ongoing drilling activities will be done as part of the second quarter interim report which will be released to the market on August 20, 2008.
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