Record production to DNO

Oil production for the individual geographical units for January was as follows (BOPD):
The increase in oil production in January was primarily due to the Thistle production which is now included. Some increase in production from Norway was also noted due to a new production well on the Jotun Field.
The oil production from Yemen was slightly down compared to December 2002 due to some well intervention work on the Tasour Field (ref. Stock Exchange Notice dated 21.01.03). The oil production from the Tasour-field was increased to more than 17.000 BOPD towards the end of the month (DNO's share 6.900 BOPD before tax), due to increased pump capacity for the export pipeline. With the latest production well on stream the Tasour Field has the capacity to produce more than 20.000 BOPD with all wells on full production. In order to take advantage of the increased capacity for the field,  equipment for further increase in export capacity will be installed during February.
Drilling of a well on the Haibish structure close toTasour is now almost completed. The well did not encounter hydrocarbons of commercial quantities. DNO's share of the well costs (ca. 500.000 USD) will be recovered from future cost-oil from Tasour production. The drilling rig will now move to Sharyoof to drill a new production well.