DNO Posts Production Increase for October


Tawke area of Iraqi Kurdistan
(Click to Enlarge)

DNO has reported its October 2008 production in Yemen and the Kurdistan region of Iraq.

Yemen Production
 
DNO's WI production from Yemen in October 2008 was 8,827 bopd, up from 8,775 bopd in September 2008. The YTD production to DNO from Yemen is 9,617 bopd, which is in line with management's expectations.
 
DNO's oil production from Yemen is reported as follows:
 

Yemen production (Bopd)
Q3 2008
Oct
YTD 2008
Working Interest (WI)
8,836
8,827
9,617
Net Entitlement (NE)
5,122
5,614
6,084
Realized Oil Price per barrels (NE) USD
115.09
78.57
 

 
The production figures (WI and net entitlement) include crude oil consumed in the operation of the Company's production s facilities, at an accumulated volume of 334 bopd during October 2008.
 
DNO's revenue entitlement from the Tawke test production
 
As previously reported the test production volumes to the Company from Tawke will be based on revenue entitlements rather than volumes, as test production does not reflect the normal operational performance or production capacity of the fields. The revenue entitlement from Tawke test production is reported as follows:
 

NOK. MILL:
Q3 2008
Oct
YTD 2008
Tawke Revenue Entitlement
38,6
18,4
254,1

 

 

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