Oslo, 5 December 2016 - DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 36.20 million from the Kurdistan Regional Government as payment towards September crude oil deliveries to the export market from the Tawke field.
The funds, to be shared pro-rata by DNO and partner Genel Energy plc, include USD 30.36 million toward the monthly entitlement for September deliveries and USD 5.84 million toward the recovery of outstanding receivables for past deliveries.
Tawke production in September averaged 112,897 barrels of oil per day (bopd), of which 112,282 bopd was delivered for export through Turkey.
DNO ASA is a Norwegian oil and gas operator focused on the Middle East and North Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Yemen, Oman, the United Arab Emirates, Tunisia and Somaliland.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.