DNO ASA - Annual Statement of Reserves (ASR)

DNO ASA ("DNO") today files its first ASR under the new Oslo Stock Exchange regulations related to disclosure of hydrocarbon reserves.
 
During the presentation the given to the market on 14.02.2007, DNO reported preliminary P50 reserves and resources as of 31.12.06 of 151 million barrels oil equivalents.
 
The total remaining P50 reserves for DNO as of 31.12.2006 are now estimated to 79,7 million barrels of oil equivalents.  These volumes correspond to class 1-3.
 
In addition, 48,8 million barrels are estimated as contingent resources in class 4-5.  Resources under evaluation (class 7) are estimated to 22,5 million barrels of oil equivalents. The ASR report does not include Class 7 resources.
 
In summary, the estimate for total P50 reserves and resources for DNO as of 31.12.2006 is 151 million barrels of oil equivalents, as previously communicated.
 
(P50 figures)
 
Reserves (class 1-3), mill. boe                                                      79,7
Contingent resources (class 4-5), mill. boe                                    48,8
Total reported in ASR report, mill boe                                   128,5
 
Resources (class 7), mill. boe                                                       22,5 
Total reserves and resources, mill. boe                                  151,0   
 
 
DNO ASA
30 March  2007