This website and its material are owned by DNO ASA. Despite our reasonable efforts to provide accurate and updated information, the information on this website may not be up to date or complete. The company disclaims any duty to update materials or information published on the website.
DNO and its subsidiaries are not liable for any inaccuracies or omissions on the website and do not accept any claims for any direct or indirect losses or damage of any kind arising from accessing or using this website or any information it contains.
The content of this website does not constitute an offer to sell or a solicitation of an offer to buy the company’s securities.
This notice shall be governed by Norwegian law.
Notice regarding forward-looking statements
All statements other than those of historical fact contained on this website are forward-looking statements. Such forward-looking information is based on management’s current plans and expectations and is subject to a number of uncertainties that could significantly impact current plans, financial conditions and operations. As a result, actual results may differ materially from expectations.
Cautionary note regarding estimates of oil and natural gas reserves
Reservoir engineering is a subjective process of estimating underground accumulations of oil and natural gas that cannot be measured precisely. The accuracy of any reserve estimate is a function of the quality of available data and engineering, geological interpretation and professional judgment. Results of drilling, testing and production subsequent to the date of an estimate may justify the revision of such an estimate. Accordingly, reserve estimates are often different from the quantities of oil and natural gas that are ultimately recovered.
The United States Securities and Exchange Commission (SEC) permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated to be economically and legally producible under existing economic and operating conditions. DNO also uses other terms on this website that the SEC’s guidelines strictly prohibit companies from including in filings with the SEC. Examples of such terms would be statements regarding “probable,” “possible” or “recoverable” reserves, among others. U.S. investors are urged to consider closely the disclosure of our reserves information.
Under Norwegian Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS), we use proved plus probable reserves as our base when estimating depreciation and abandonment provisions. Therefore, the notes accompanying our consolidated financial statements for the years ended 31 December 1998 through 31 December 2017 prepared in accordance with Norwegian GAAP and IFRS, which are available on this website, include estimates of our probable reserves, which do not meet the degree of certainty regarding potential production applicable to proved reserves. Furthermore, many of the proved and probable reserve figures included in our Norwegian GAAP and IFRS consolidated financial statements are based on our own estimates, not the evaluation of independent petroleum engineers. We caution you against reliance on the reserves information contained in our Norwegian GAAP and IFRS consolidated financial statements.