DNO ASA - Update of Jaguar Well

DNO ASA announces that DNO UK Ltd, its wholly owned subsidiary, provides an update on the Northern North Sea well 211/22b-5, located on the Jaguar prospect on the United Kingdom Continental Shelf.
 
The well has been drilled into the top of the Middle Jurassic using the Bredford Dolphin semi-submersible H-3. The main target for the well was the Upper Jurassic Jaguar sands. This objective zone has been drilled without any indications of commercial hydrocarbons. This result is yet to be confirmed by wireline logging.
 
However, drilling is continuing to TD followed by a wireline logging program in order to fully evaluate the hydrocarbon prospectivity of the underlying formation. A further announcement will be made when this has been completed.
 
As previously announced, DNO retained a 50% working interest on the Jaguar prospect, contributing to 77.1% of the total well cost.  DNO's partners on the well were Rocksource ASA and Elixir Petroleum plc, with the following interests:
 
 
 
For further information please contact:
 
 
Website : www.dno.no
 
Notes to the Editors:
 
DNO ASA is an international E & P company based in Oslo, Norway.
 
The company has a diversified, risk balanced portfolio with interests in Norway, UK, Yemen and Northern Iraq.
 
Hydrocarbon production is focused on its operations in Yemen and Norway, with current daily production of approximately 18,000 bopd.
 
During 2005, the Company increased its reserve base by more than 150 % primarily through exploration and acquisitions. Following an additional oil discovery early in 2006, DNO currently holds proven and probable reserves of more than 100 million boe.
 
 In 2006 the Company will increase its exploration activities across all of its core areas of interests, and DNO plans to participate in 22 exploration wells throughout the year, of which 15 as Operator.