DNO's First Possible Oil Discovery in West Africa

The drilling of a new well in a license in Western Africa where DNO holds a 5 % Working Interest, commenced beginning of August. Interpretation of wells logs received during the course of recent days indicates moveable hydrocarbons in the well.

The well is classified as a "tight well" hence there are restrictions as to information to be released during drilling. However, as this is the first possible oil discovery for DNO in the Western Africa region the company considered it appropriate to release information about the well at this stage.

The forward plan is to continue drilling into deeper targets and a possible side-track will be considered to further evaluate the results.

After the drilling is finalized further evaluations will be undertaken to define the size of this possible oil discovery.

For more information contact:

Helge Eide
Managing Director.

Telephone: (+47) 55 22 47 00 / (+47) 23 23 84 80