DNO International Announces Jurassic Discovery, Successful Horizontal Drilling in Tawke License

oil and gas company, announced today that its deep Tawke-17 well tested 1,500
barrels a day of 26-28 degree API crude oil from an Upper Jurassic reservoir
underlying the Tawke field in the Kurdistan Region of Iraq. Separately, the
Tawke-20 well, the Company's first horizontal well in the Tawke field, has
flowed an average of 8,000 barrels a day from each of the first four of ten
fractured corridors penetrated by the well. Testing continues on both wells.
"We are very pleased that initial Tawke-17 results are in line with the
Company's pre-drill estimates," said Bijan Mossavar-Rahmani, DNO International's
Executive Chairman. "This discovery in the Sargelu formation, over 200 meters
below the main field Cretaceous reservoir, likely bumps recoverable reserves on
the Tawke license to the one billion barrel mark," he added.
Drilling of a second Tawke horizontal well continues on schedule. "If this
second well, Tawke-23, demonstrates the significant deliverability uptick we are
now seeing in Tawke-20, we will go back to the drawing board and consider
further enhancements to our current target of 200,000 barrels a day of
production capacity by 2015," Mr. Mossavar-Rahmani said. Last month the Company
announced that it had met its previous goal of delivering 100,000 barrels a day
from the Tawke field following 72 hours of well and facility tests.
The Tawke-17 well, the deepest drilled by the Company in the Tawke field,
encountered several Triassic zones that proved either tight or water bearing.
Two additional identified reservoir intervals in the Upper Jurassic remain to be
perforated and tested.
DNO International holds a 55 percent interest in and operates the Tawke license.
Genel Energy plc holds 25 percent and the Kurdistan Regional Government the
remaining 20 percent interest.
--- DNO International ASA is an Oslo-listed, Middle East and Africa focused, oil
and gas company holding stakes in 18 licenses in various stages of exploration,
development and production both onshore and offshore in the Kurdistan Region of
Iraq, the Republic of Yemen, the Sultanate of Oman, the United Arab Emirates,
the Tunisian Republic and Somaliland. http://www.dno.no ---
Oslo, 11 June 2013
DNO International ASA
Corporate Communications
Queries: Bjørn Dale (bjorn.dale@dno.no or +47 909 79 889)
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: DNO International ASA via Thomson Reuters ONE
[HUG#1708475]
Unternehmen: DNO International ASA - ISIN: NO0003921009