In a Stock Exchange Notice issued on 23rd May 2005 DNO ASA (DNO) announced a farm-in agreement with Elixir Petroleum Ltd. (Elixir) with respect to a 60 % working interest and Operatorship in Block 211/22B. This transaction is currently being under review for approval by the UK authorities.
DNO and RGT have been discussing several areas of cooperation including farm-in opportunities into licenses held by DNO. DNO has offered a 10 % working interest in Block 211/22B to RGT subject to an agreement acceptable between the parties, inclusion of RGT in the Block 211/22B Joint Operating Agreement between DNO and Elixir and finally approval by UK authorities. The process of such possible transaction will commence when the DNO / Elixir agreement has received final approval by UK authorities.
DNO currently own 51.463.448 shares in RGT representing 12,1 % of the company.
DNO ASA
16th August 2005
for further information, please contact:
Helge Eide
Managing Director.
Telephone: (+47) 55 22 47 00 / (+47) 23 23 84 80
16th August 2005
for further information, please contact:
Helge Eide
Managing Director.
Telephone: (+47) 55 22 47 00 / (+47) 23 23 84 80