DNO ASA - Northern Iraq Exploration Drilling Update

DNO has successfully drilled the first exploration well within DNO's PSA agreement area located in Iraqi Kurdistan. The well was spudded on 28 November 2005 and the well has reached 3,100 meters on 22 March.  It is expected that the well will reach the total depth within a few days.
Tawke # 1 has met all exploration objectives, and the drilling operations have been carried out in a safe manner without lost time accidents ("LTA").
The well data acquired to date are currently being evaluated in order to optimize the additional data acquisition program for the well.
It has been decided that several well tests will be performed. The test results are vital in order to evaluate the hydrocarbon prospectivity and potential commerciality of the Tawke prospect.
Whilst continuing evaluations of well data and preparing for the well test program, the Tawke # 1 will be temporarily suspended and the drilling rig will be moved to a new well site to commence drilling of the second well within the PSA area. Timing of the testing is dependent on several factors and considerations are currently being made to bring in a smaller rig to perform the well testing of Tawke  #1.