DNO Secures Borgland Dolphin for Norwegian Drilling Program

DNO along with Pertra and Revus Energy have formed a consortium which has secured the semisub, Borgland Dolphin, for a three-year contract starting at the end of 2006.

DNO has expanded its Norwegian Continental Shelf Portfolio during the past 12 months, which now comprises 13 licenses on which it acts as operator on five of those licenses. The contract with the Borgland Dolphin allows DNO to undertake drilling of minimum six wells within its NCS operated licenses during the three-year period starting at the end 2006.

DNO is pleased to have secured these rig slots through the consortium that put the company in position to unlock potential petroleum resources on NCS during the coming years.

The estimated value of the drilling contract is US $361 million. The award of the contract is subject to agreement on contract terms and will be in direct continuation of the rig's present contract.

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