DNO ASA - November Production Update

DNO's oil production (WI) for November and the first eleven months of 2006 was as follows (bopd): 

 

 

The WI production to DNO from Yemen in November was down by 717 bopd compared to October. This was due to expected decline in production from the latest well on the Tasour Field (Tasour # 22ST), some well work at the Sharyoof Field and commissioning work at the Nabrajah Field.

 

DNO's production from the Glitne Field was stable compared to October.

 

 

In its mandatory financial statements, DNO presents its operations governed by Production Sharing Agreements (PSAs) according to the net entitlement method. For DNO, use of this method implies that the production in Yemen is presented net of government take, but including a portion assigned to cover DNO's corporate tax.

 

For the first time in its monthly production reports, DNO is pleased to present estimates on monthly net entitlement production. These estimates are provided to shareholders and investors in order to facilitate analysis of the company's revenue development, as presented in DNO's mandatory financial statements. It should be noted that the monthly net entitlement production figures represent preliminary estimates that may be subject to revision.

 

 

 

 

 

The production figures (WI and net entitlement) include crude oil consumed in the operation of the Tasour Field, at a volume of approximately 160 bopd.

 

 

 

 

 

Helge Eide, Managing Director