Oslo, 30 October 2013 -- DNO International ASA ("DNO International"), the Norwegian oil and gas company, announced today that it has tested 5,900 barrels per day of 36º API crude oil from the Salsala-1 exploration well drilled in Block 32, the Republic of Yemen.
Salsala-1 was directionally drilled to a total depth of 4,147 meters and encountered oil shows in the Shuqra formation which was perforated over a 32 meter interval, acidized and tested. The well flowed naturally at an initial rate of 5,900 barrels per day before being choked back to 3,400 barrels per day due to limited surface storage capacity.
The well was spudded in July 2013 and the cost to drill, complete and test was $10 million. Block 32 contains two producing fields, Godah and Tasour, whose gross output currently averages 2,500 barrels per day.
"Yemen continues to be an important focus area for DNO International and this discovery reflects our commitment to continue to build on our in-country knowledge, expertise and investments," said Bijan Mossavar-Rahmani, DNO International's Executive Chairman. He added that the Salsala-1 well will be placed on an extended production test and that an appraisal well is scheduled in early 2014 as part of a fast track development of this discovery.
DNO International holds a 38.95 percent interest in and operates Block 32. Ansan Wikfs holds 42.93 percent, TransGlobe Energy Corporation 13.12 percent and Yemen Oil & Gas Corporation the remaining 5 percent.
In addition to Block 32, DNO International holds interests in five other blocks in Yemen, two of which are also in production, one under development and two in the exploration phase. Year-to-date, DNO International's Company Working Interest production in Yemen has averaged just over 4,000 barrels per day.
--- DNO International ASA is an Oslo-listed, Middle East and North Africa focused oil and gas company holding stakes in 20 blocks 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, the Tunisian Republic and Somaliland.---
Oslo, 30 October 2013
DNO International ASA
Queries: Bjorn Dale (email@example.com or tel: +47 909 79 889)
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)