DNO International ASA - February 2010 Production Report
(Thomson Reuters ONE) -
DNO is today reporting February 2010 production and a summary of ongoing
drilling and well operations.
PRODUCTION REPORT
DNO's working interest production was 11,811 bopd and DNO's net entitlement
production was 7,893 bopd in February 2010.
Yemen production
DNO's working interest (WI) production from Yemen in February 2010 was 7,371
bopd and DNO's net entitlement production was 4,933 bopd.
Production from Yemen is reported as follows:
(Bopd) FY 2009 Q4 2009 Jan-10 Feb-10
----------------------------------------------------------------------
Gross production 18,836 19,237 19,682 18,677
DNO's working interest (WI) 7,749 7,655 7,719 7,371
DNO's net entitlement (NE) 5,358 4,738 4,914 4,933
Achieved oil price (USD/bbl) 61 76 83 76
The
production figures include crude oil consumed in the operation of the Company's
production facilities, at an accumulated WI volume of 283 bopd and NE volume of
187 bopd in February 2010.
The production performance for February is in accordance to expectations. In
Block 53, operated by Dove Energy, the Bayoot Field production is continuing to
increase primarily due full utilization of the ESP-pump capacity in the wells.
Gross production from Bayoot is now more than 6,000 bopd.
Kurdistan production
DNO's working interest (WI) production from Kurdistan in February 2010 was
4,440 bopd and DNO's net entitlement production was 2,960 bopd.
Production from Tawke is reported as follows:
(Bopd) FY 2009 Q4 2009 Jan-10 Feb-10
---------------------------------------------------------------------
Total gross production 15,291 6,584 6,032 4,934
DNO's working interest (WI) 13,762 5,926 5,429 4,440
DNO's net entitlement (NE) 9,186 3,959 3,619 2,960
The production figures include crude oil consumed in the operation of the
Company's production facilities, at an accumulated WI volume of 155 bopd and NE
volume of 103 bopd in February 2010.
The deliveries to the local market are varying from month to month as previously
reported. The lower volumes for February was due to several days of halt in
deliveries during that month.
SUMMARY OF DRILLING AND WELL OPERATIONS
Yemen
As previously reported the Bayoot-7 basement development well in Block 53 was
put on stream 12 February and is now producing at 160 bopd. Spud date for
Bayoot-8 basement development well in Block 53 was 26 February and drilling
operations are progressing as planned. The total depth of the well is scheduled
to 3907m, of which 670 meters is planned as an open hole reservoir section in
fractured Basement.
The Nabrajah-10S/S2 well was completed as production well in Block 43 in January
and brought on stream for clean-up and test production. The well confirmed
movable oil 186 m vertically deeper than Nabrajah-5, which has produced from the
same reservoir for more than 4 years. Alternative options for improving oil
production and recovery from the Shuqra formation are being evaluated.
Drilling of the appraisal well Yaalen-3 in Block 47 is expected to commence in
ultimo March.
Kurdistan
Testing of the Erbil-2 well with Sindi-1 rig was completed in March. The
preliminary results confirmed only oil in the upper Najmeh reservoir, initially
testing in the order of 200 bopd of 12-14 API oil. The well is now suspended and
the rig has returned to Tawke. Evaluation of all test results will be presented
in an updated appraisal program and a forward plan for the Erbil license will be
filed with the Ministry of Mineral Resources (MNR) by June this year.
Great Wall Rig-10 is still novated to Heritage and the rig is expected to return
to DNO end July 2010 for drilling of the Summail-1 exploration well in the Dohuk
PSC.
DNO International ASA
29 March, 2010
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1398512]
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Datum: 29.03.2010 - 02:28 Uhr
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