DNO Acquires Interest in PL 150

DNO has acquired a new license interest in the PL 203 area, and a well has been spudded in PL 167 (block 16/1) offshore Norway.

DNO ASA, together with Marathon has acquired interests in PL150 from Enterprise / Shell. The license is located near PL 203, and a discovery (Grieg) has previously been made in the license of which the resources are assumed to be some 20 to 35 million barrels. The Marathon-operated partnership is now planning drilling activity in the license in 2004. DNO has acquired a 35 percent interest in the license, and the transaction is pending the approval of the Norwegian authorities.

Earlier this year, DNO announced that the company had acquired a 20 percent interest in PL 167 (block 16/1) of which Statoil is operator and holds an 80 percent interest.