DNO Boosts 3Q Operating Revenues

Det norske oljeselskap ASA has reported operating revenues in Q3 2008 in the amount of MNOK 102.2, as compared to MNOK 19.4 in the same quarter in 2007. The operating loss amounted to MNOK 108.3. The net income in the period was MNOK 5.6.

In the corresponding quarter last year, the company reported an operating loss of MNOK 32.7, and the net loss was MNOK 5.1. Total exploration expenses in Q3 amounted to MNOK 146.4. (33.1).

Production in Q3 was 164,945 barrels (56,578). The oil was sold at an average price of US $117 per barrel. The results are in accordance with the company's stated plans.