Highlights for the fourth quarter and full year 2004
- We are pleased to have further increased the production in the fourth quarter. On an annual basis DNO has delivered an annual average production per day significantly above our target for 2004. The results for 2004 reflect our company's higher focus on exploration, says Managing Director of DNO ASA, Helge Eide.
DNO had operating revenues of NOK 347.8 million (NOK 484.7 million) in the fourth quarter 2004. For the full year the operating revenues amounted to NOK 1 310.4 (NOK 2 008.6 million). Sale of producing assets is the main reason for the decrease in operating revenues.
DNO achieved an operating profit (EBIT) of NOK 250.2 million (NOK 140.7 million) in the fourth quarter 2004. For the full year, the operating profit was NOK 914.7 million (NOK 755.3 million). Included in the operating profit the full year is a sales gain of NOK 359.0 million from the sale of assets to Lundin Petroleum AB.
In the fourth quarter DNO had a net profit of NOK 14.8 million (NOK 12.3 million). For the full year DNO had a net profit of NOK 202.2 million (NOK 134.1 million).
A full interim report and investor presentation is accessible at DNO's website: www.dno.no
The full report including tables can be downloaded from the following link:
The presentation can be downloaded from the following link:
For further information, please contact:
Helge Eide, Managing Director
23 23 84 80 or 55 22 47 00
Haakon Sandborg, Chief Financial Officer
23 23 84 80