Dno

[TekBot]

Mandatory Notification of Trade

Please refer to the attached forms of notification of transaction by primary
insiders following synthetic share awards approved by the 2023 Annual General
Meeting.
…

Vis børsmeldingen

This notification has been submitted pursuant to the Norwegian Securities
Trading Act § 5-12 and MAR Article 19 no. 3.

Kilde

[TekBot]

Mandatory Notification of Trade

Please refer to the attached forms of notification of transaction by primary
insiders under the DNO ASA Employee Synthetic Share Program.

…

Vis børsmeldingen

This notification has been submitted pursuant to the Norwegian Securities
Trading Act § 5-12 and MAR Article 19 no. 3.

Kilde

[nucleus]

DNO bør ha gode akkumuleringstider nå.
like for oppstart av rørlinja Kurdistan-Tyrkia pånytt. Er vel måte på hvor lenge Tyrkia kan bremse eksporten. Så tapper de jo penger på manglende oljeeksporten.

[TekBot]

Norway logs largest hydrocarbon discovery in 10 years

Oslo, 10 July 2023 - DNO ASA, the Norwegian oil and gas operator,
today announced a significant gas and condensate discovery on the Carmen
prospect in the Norwegian North Sea license PL1148 in which the Company holds a
…

Vis børsmeldingen

30 percent interest.

Preliminary evaluation of comprehensive data, including cores and fluid
samples, acquired from the discovery well and a follow-on extended sidetrack
indicates gross recoverable resources in the range of 120-230 million barrels of
oil equivalent (MMboe) on a P90-P10 basis. At 175 MMboe, the mid-point of this
range, Carmen ranks as the largest discovery on the Norwegian Continental Shelf
since 2013.

The two wells have established a deeper hydrocarbon-water contact, tripling the
mid-point of DNO’s pre-drill expected range.

Carmen is DNO’s sixth discovery in the Troll-Gjøa area since 2021 and
is located close to existing infrastructure with clear routes towards
commercialization. The other discoveries are Røver Nord, Kveikje,
Ofelia, Røver Sør and Heisenberg.

“Norway is the gift that keeps on giving,” said DNO’s Executive Chairman
Bijan Mossavar-Rahmani. Carmen proves there are important discoveries still to
be made and Norway’s oldest oil company, DNO, will be part of this next chapter
of the country’s oil and gas story," he added.

DNO farmed into PL1148 in 2022 through its wholly-owned subsidiary DNO Norge
AS. The other partners in the license are Wellesley Petroleum AS as operator
with 50 percent interest and Equinor Energy AS and Aker BP ASA with 10 percent
each.

For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no

DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North
Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the
Company holds stakes in onshore and offshore licenses at various stages of
exploration, development and production in the Kurdistan region of Iraq, Norway,
the United Kingdom, Côte d’Ivoire, Netherlands and Yemen.

This announcement is considered to include inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act. This announcement was
published by Gudmund Hartveit, Manager Corporate Development and IR DNO ASA, at
the date and time set out above.

Kilde

[nucleus]

DNO melder om mulig rekordfunn i Nordsjøen: – Største på 10 år – E24 Endelig noe skikkelig posetivt for DNO med flott finn i Nordsjøen. Krysser fingrene for at rørlinja Turkiet starter opp pånytt, som neste posetive løft.

[aksjewonka]

Noen analyser som må oppdateres…

Snakk om flaks - det er det jo nesten alltid snakk om, men likevel. PL1148 er fra TFO2021 med borestart 16. juni i år. Oddfjell og riggen deepsea Yantai som stod for drill, hvor en brønnbanene ble avsluttet 12. juni. for deretter å bevege seg videre til funnet i dag. PUD for PL1148 under arbeid med frist 11. mars 27

https://factpages.npd.no/nb-no/licence/pageview/all/38723893

[aksjewonka]

@aksjewonka

analyser som må oppdateres…

SB1M øker kursmål til 16 (15) i dag.

[TekBot]

Q2 2023 Trading Update and Invitation to Earnings Call

Oslo, 17 July 2023 - DNO ASA, the Norwegian oil and gas operator, will publish
its Q2 2023 operating and interim financial results on 17 August at 07:00 (CET).
A videoconference call with executive management will follow at 10:00 (CET). The
…

Vis børsmeldingen

Company issues below an update on production and sales volumes for the quarter
as well as other key financial information that will be further discussed in the
earnings call.

Volumes (boepd)

---

Gross operated production Q2 2023 Q1 2023 Q2 2022

Kurdistan 65 94,720 107,178

North Sea - - -

---

Net entitlement production Q2 2023 Q1 2023 Q2 2022

Kurdistan 598 22,691 26,682

North Sea 10,841 14,776 11,579

---

Sales Q2 2023 Q1 2023 Q2 2022

Kurdistan 598 22,691 26,682

North Sea 9,056 15,865 12,594

---

Equity accounted production (net) Q2 2023 Q1 2023 Q2 2022

    Côte d'Ivoire                  3,555     3,676       -

Selected cash flow items

During the second quarter, DNO did not receive any payments from the Kurdistan
Regional Government for crude oil deliveries from the Tawke and Baeshiqa
licenses.

DNO paid two tax instalments totaling of USD 80.0 million in Norway related to
Norwegian Continental Shelf (NCS) taxable profits in 2022.

Also during the quarter, the Company paid a dividend of NOK 0.25 per share
totaling USD 22.1 million.

Other items and information

DNO participated in three exploration wells in the North Sea in the quarter. The
Carmen well in PL1148 on the NCS (30 percent working interest) has been
announced as the largest discovery in Norway in 10 years. The well was spud in
April and completed in July. The Eggen and Litago wells in PL923 on the NCS (20
percent working interest), drilled in May and June, were dry.

DNO shut down production from its operated oil fields in the Kurdistan region of
Iraq after it was instructed in late March to temporarily cease deliveries to
the Iraq-Turkey Pipeline. The reported gross operated production in Q2 2023
represents volumes that were produced into April and placed in storage tanks.
Sales from storage to local markets commenced during the quarter and have been
stepped up.

Earnings call login details

Please visit www.dno.no (http://www.dno.no) for login details ahead of the call.

Disclaimer

The information contained in this release is based on a preliminary assessment
of the Company’s Q2 2023 operating and interim financial results and may be
subject to change.

For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no

DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North
Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the
Company holds stakes in onshore and offshore licenses at various stages of
exploration, development and production in the Kurdistan region of Iraq, Norway,
the United Kingdom, Côte d’Ivoire, Netherlands and Yemen.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

Kilde

[aksjewonka]

Oslo (Infront TDN Direkt): Irak vil diskutere å gjenoppta flyten i en oljerørledning som har vært stengt siden mars når Tyrkias president Recep Tayyip Erdogan besøker Bagdad.

Det opplyser en rådgiver for den irakiske statsministeren Mohammed Shia Al-Sudani, melder Bloomberg News tirsdag.

Ifølge en uttalelse fra statsministers kontor tirsdag planlegger Erdogan å besøke Bagdad, men det ble ikke oppgitt noe tidspunkt for besøket. Tyrkiske myndigheter har ikke bekreftet informasjonen, skriver nyhetsbyrået.

[Jopaul02]

Prisingen av DNO er helt rar. Aksjekursen totalt ignorerer Kurdistan produksjon. Hva tror folk her, blir det noe produksjon derfra igjen? Eller blir det kanskje et forsøk på å prøve å selge assets der til evt KRG eller andre selskap der for å få cash og bruke dette på produksjon i Norge/Afrika? Hvis det skulle blitt solgt er det smart å vente til det kanskje komme noen gode nyheter. Problemet da er at hvis det kommer gode nyheter er det ingen grunn til å selge fordi produksjonen der er det veldig god fortjeneste på, men DNO har alltid hatt problemer der, de har kanskje løst seg hver gang, men de kommer tilbake. På tide å komme seg ut derifra og kanskje satse fullt på NCS eller en blanding av Afrika og Norge?

[aksjewonka]

Dette løsner når Irakiske myndigheter blir enig med kurderne om oljen.

[Jopaul02]

Ja, men har lest en del om at de egentlig ikke har lyst til å lage en avtale sånn det er nå, OPEC kvote er møtt, KRG produksjon inn i Irak sin kvote nå blir bare ødeleggende. Da tror jeg heller irak vil prøve å få spilt enda flere kort. Håper jo selvfølgelig at alt fikser seg, og det snarest. Tanken er bare på om dette kan bli siste gang det blir problemer som dette? For da kan endelig Kurdistan produksjonen prises riktig. Jeg har dessverre ikke troa på det, men satser på at det i hvertfall blir noe priset inn.

[aksjewonka]

@Jopaul02

Tanken er bare på om dette kan bli siste gang det blir problemer som dette?

Trolig ikke. Erdogan har engasjert seg personlig i saken - ikke at det trenger å bety noe- men, det demonstrer i det minste at noen jobber for en løsning. Dno prises basert på den politiske risikoen. Er usikker på om KRG produksjonen inngår i Irak sin kvote. Totaltsett utgjør nok KRG oljen svært lave tilskudd i det globale tilbudet (synsing). Jeg vil samtidig tro at KRG oljen har flere aspekt ved seg, enn bare volum. Å ikke tillate KRG å selge olje er et effektiv sansjonsmiddel. Å tillate KRG kan forstås som å legitimere KRG. Irak har mange insentiv for å tilbakeholde KRG olje. Irakiske myndigheter nekter å akseptere KRG uavhengighet og dermed er KRG er med andre ord omstridt.

[TekBot]

DNO Opens Taps at Tawke; Reports Second Quarter 2023 Results

Oslo, 17 August 2023 - DNO ASA, the Norwegian oil and gas operator, today
reported that production from its flagship Tawke field in Kurdistan has been
restarted following a four-month shut-in triggered by the closure of the Iraq-
…

Vis børsmeldingen

Turkey Pipeline export route. Production was restarted last month to conduct
well integrity tests and synchronize reservoir models but has continued in
response to strong demand for Tawke oil. Field output is currently averaging
40,000 barrels of oil per day (bopd). The nearby Peshkabir field, on the same
license, remains closed.

One-half of Tawke production is delivered to the Kurdistan Regional Government
and the balance is sold by DNO on behalf of the contractors (DNO 75 percent and
Genel Energy International Limited 25 percent) to local trading companies and
the oil transported by road tanker. Prices vary by contract and average around
50 percent of pre-closure levels but payments now are made promptly and directly
to DNO.

“While there is no light at the end of the export pipeline, we are seeing the
headlights of more and more incoming tanker trucks loading up our Tawke cargoes
on a cash-and-carry basis,” said DNO Executive Chairman Bijan Mossavar-Rahmani.
“Meanwhile, our strategy of broadening DNO’s portfolio beyond Kurdistan is
bearing beautiful fruit,” he added.

A total of 100 million barrels of oil equivalent (MMboe) have been discovered
net to DNO offshore Norway since 2021, of which 78 MMboe have been added so far
this year, driven importantly by DNO’s 30 percent stake in Norway’s largest
discovery in a decade (Carmen). Previous discoveries are moving towards
development. In June, the development of the Andvare discovery (DNO 32 percent)
and the Berling discovery (DNO 30 percent) received government approvals,
targeting gross volumes of 11 MMboe (start-up in 2024) and 45 MMboe (start-up in
2028), respectively. DNO also recently announced a fast-track development
concept for the Brasse discovery (DNO 50 percent) as a low-cost tieback to Brage
production facilities (DNO 14 percent) with main terms agreed ahead of final
investment decision early next year.

“All barrels of oil or molecules of gas are not created equal,” said Mr.
Mossavar-Rahmani. “Our recent discoveries have high net present value as DNO’s
offshore Norway drilling campaign is deliberately designed to target lower risk
prospects near existing infrastructure,” he added. “We thought such low-risk
prospects would also be small to medium in size, but Carmen happily proved us
wrong.”

The Company’s Côte d’Ivoire assets, which were acquired last year, deliver
stable production and further upside potential. A gas sales contract
renegotiation with the government is ongoing to raise the price ceiling,
allowing for increased investment in Block CI-27 (DNO nine percent). On nearby
Block CI-12 (DNO eight percent) a rig has been secured for two exploration wells
plus one optional well, to be drilled back-to-back commencing in the fourth
quarter of 2023.

In the second quarter of 2023, net production across DNO’s portfolio hit the
lowest level in 13 years at 14,400 barrels of oil equivalent per day (boepd), of
which the North Sea contributed 10,800 boepd, West Africa 3,500 boepd and
Kurdistan the balance. Driven by the Kurdistan export closure and a significant
North Sea production cut from a shutdown of third-party facilities that has now
ended, DNO reported a 78 percent quarter-on-quarter revenue drop to USD 58
million. Net loss amounted to USD 19 million, down from a net profit of USD 87
million in the previous quarter.

The balance sheet remains strong with an unchanged equity ratio of 50 percent as
the Company exited the quarter with cash deposits of USD 743 million and net
cash of USD 177 million. Given uncertain timing of pipeline export resumption
and continued delays in payments by the Kurdistan Regional Government for
previous oil sales, DNO has cut back new investment spend and staffing levels.

The Board of Directors has authorized dividend payment of NOK 0.25 per share to
be made on or about 1 September 2023, maintaining the Company’s quarterly
distribution program.

A videoconference call with executive management will follow today at 10:00
(CET). Please visit www.dno.no to access the call.

Key figures

                                     Q2 2023   Q1 2023   Full-Year 2022

Gross operated production (boepd) 65 94,720 107,637

Net production (boepd) 14,417 89,399 97,310

Revenues (USD million) 58 269 1,377

Operating profit/-loss (USD million) -15 155 431

Net profit/-loss (USD million) -19 87 385

Free cash flow (USD million) -144 35 619

Net cash/-debt (USD million) 177 344 388

For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no

DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North
Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the
Company holds stakes in onshore and offshore licenses at various stages of
exploration, development and production in the Kurdistan region of Iraq, Norway,
the United Kingdom, Côte d’Ivoire, Netherlands and Yemen.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

Kilde

[TekBot]

Key Information Relating to Cash Dividend

Oslo, 17 August 2023 - DNO ASA, the Norwegian oil and gas operator, today
announced that pursuant to the authorization granted at the Annual General
Meeting held on 25 May 2023, the Board of Directors has approved a dividend
…

Vis børsmeldingen

payment of NOK 0.25 per share to be made on or about 1 September 2023 to all
shareholders of record as of 25 August 2023. DNO shares will be traded ex-
dividend as of 24 August 2023.

Dividend amount: NOK 0.25 per share
Declared currency: NOK
Last day including right: 23 August 2023
Ex-date: 24 August 2023
Record date: 25 August 2023
Payment date: 1 September 2023 (on or about)
Date of approval: 16 August 2023, based on authorization granted 25 May 2023

For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no

DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North
Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the
Company holds stakes in onshore and offshore licenses at various stages of
exploration, development and production in the Kurdistan region of Iraq, Norway,
the United Kingdom, Côte d’Ivoire, Netherlands and Yemen.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act and section 4.2.4 of Euronext Oslo
Rulebook II.

Kilde

[TekBot]

DNO Completes Share Capital Reduction

Oslo, 17 August 2023 - DNO ASA, the Norwegian oil and gas operator, today
announced that the cancellation of all 79,376,509 own shares held by the
Company, representing 7.53 percent of shares outstanding, has been completed.
…

Vis børsmeldingen

This reduction of share capital was approved by shareholders at the Annual
General Meeting on 25 May 2023.

The creditor notice period for the share capital reduction expired on 19 July
2023 and the new share capital has been registered with the Norwegian Register
of Business Enterprises.

The Company’s new registered share capital is NOK 243,750,000 divided on
975,000,000 shares, each with a nominal value of NOK 0.25.

For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no

DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North
Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the
Company holds stakes in onshore and offshore licenses at various stages of
exploration, development and production in the Kurdistan region of Iraq, Norway,
the United Kingdom, Côte d’Ivoire, Netherlands and Yemen.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

Kilde

[aksjewonka]

https://newsweb.oslobors.no/obsvc/attachment.obsvc?messageId=597090&attachmentId=266632&obsvc.item=1

Genel Energy PLC: Update on Tawke PSC

[Sjakk]

Så olje på halv produksjon selges til halv pris, => kjøper seg “godvilje lokalt” men i hovedsak opprettholder flow i brønnen? Setter pris på om noen kan brodere hvordan dette gir mening longterm.

[Jopaul02]

Kostnader ved å starte opp en brønn som er stengt over lang tid koster en del. Så lenge dette dekker kostnader er det en midlertidig løsning for å holde brønnene i gang. Som også nevnt i FA forum kan det bli mer konkurranse blandt disse traderene som kjøper oljen og da blir det bedre salgspris:)

[aksjewonka]

OLJE: IRAKS OLJEMINISTER I TYRKIA FOR Å DISKUTERE GJENOPPSTART AV OLJEEKSPORT -REUTERS

Oslo (Infront TDN Direkt): Iraks oljeminister Hayan Abdel-Ghani har ankommet den tyrkiske hovedstaden Ankara for å diskutere flere saker, inkludert gjenoppstart av oljeeksport gjennom den tyrkiske havnen Ceyhan.

Det sier en kilde i ministerens kontor til Reuters på mandag.

Den irakiske oljeministeren vil møte sin tyrkiske motpart for å diskutere energispørsmål. Øverst på listen er gjenoppstart av oljeeksport fra Nord-Irak gjennom den tyrkiske havnen Ceyhan, sier en tjenesteperson, ifølge Reuters