Oslo, 1 November 2012 -- DNO International ASA ("DNO International"), the Norwegian oil and gas company, announced today that the just completed West Bukha-4 well, Block 8 offshore the Sultanate of Oman, flowed on a 54/64 inch choke 7,000 barrels of 39º API oil and 15 million cubic feet of gas per day through a test separator. West Bukha-4 will be connected to the export pipeline system within days and, at the initial test rates, is expected to nearly double current oil production from the West Bukha field to 15,000 barrels per day.
The longest reach well drilled offshore Oman at nearly 6,000 meters, West Bukha-4 targets an area not penetrated by previous drilling and is the second of a three well drilling campaign initiated last year in Block 8. DNO International holds a 50 percent interest in and operates the block containing the West Bukha and Bukha fields and their respective platforms. Korea's LG International holds the remaining 50 percent interest.
Elsewhere, in Block 43, Republic of Yemen, the Nabrajah-21 well has been completed as an infill well in the Nabrajah field. Nabrajah-21, the first horizontal well drilled by DNO International into the Qishn producing interval, is averaging 800 barrels of oil per day and has increased daily Nabrajah field production to 2,200 barrels. DNO International operates Block 43 with a 56.67 interest. Following this positive outcome, the Company has commenced drilling a second horizontal well in Block 43, Nabrajah-20, before moving the rig to Block 47 to drill the Yaalen-3 well as part of the Yaalen field development plan.
"We are of course very pleased with these results as we continue both to build and to diversify the Company's production through an active drilling program across the portfolio," said Bijan Mossavar-Rahmani, DNO International's Executive Chairman.
DNO International recorded production of 41,545 barrels of oil equivalent per day on a Company Working Interest (CWI) basis in the third quarter, up from 23,234 barrels of oil equivalent per day in the second quarter of 2012. The increase is a result of resumption of oil exports from the Tawke field in Kurdistan Region of Iraq in early August and resumption of oil and gas production from the West Bukha field in early September following the previously reported replacement of a blocked section of the offshore pipeline connecting the field to export facilities.
--- DNO International ASA is an Oslo-listed, Middle East and North Africa focused, oil and gas company holding stakes in 17 licenses in various stages of exploration, development and production both onshore and offshore in the Kurdistan Region of Iraq, the Republic of Yemen, the Sultanate of Oman, the United Arab Emirates and the Tunisian Republic. http://www.dno.no
Oslo, 1 November 2012
DNO International ASA
Queries: Tom Bratlie ([email protected] or tel: +47 905 21 904)
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)