DNO Announces Well Results and New License Interests in Yemen

 

The Godah #7 development well was drilled to a total measured depth of 2,386 meters (approximately 200 meters into Basement) and subsequently plugged back and completed as a producing Qishn S1A oil well. Godah #7 was drilled at a location approximately 770 meters east of the Godah #6. Godah #7 is currently producing 438 barrels of oil per day and 7 barrels per day of water from a 4 meter interval in the Qishn S1A sand. The production rate is pump constrained. Installation of a higher capacity down-hole electrical submersible pump (ESP), which could double the production, will be considered once the production has stabilized.

 

The drilling rig has moved to Nuzooh #1 (formerly Tasour SW #1) to drill an exploration well targeting Qishn and Madbi/Naifa prospects south and west of the main Tasour field. Nuzooh #1 is located approximately 2.3 kilometres west of Tasour #23ST which recovered 200 barrels of light oil from the Naifa. Planned testing of the Tasour #23ST Naifa discovery has been deferred pending the results of Nuzooh #1. The Nuzooh well is expected to take 40 days to drill.

 

Through a farm-in, DNO has acquired a 57,78% participating interest as operator in Block 52 in Yemen.  Block 52 is located in the Sayun-Masila Basin, close to DNO's existing license interests in Yemen. The farm-in is based on a work program commitment consisting of seismic data acquisition and the drilling of exploration wells.

 

Following the farm-in, the license partners in Block 52 consists of DNO (57,78%), Ansan Wifks (22,22%) and The Yemen Company (20% carried).

 

Commenting on the Block 52 farm-in, Helge Eide, Managing Director of DNO ASA said that "We are very pleased with this latest addition to our extensive license portfolio in Yemen. Based on our long-term strategy of creating value through low cost exploration and development, we now look forward to focusing on the resource opportunities in Block 52."