Dno

[rayman]

Må my FOMO til for at det skal skje

[Autolock]

Jepp, frustrerende å gå glipp av oppturen hvis man har vært gjennom nedturen.

[Paddy80]

Blir happy om den bare går til 7.60 også

[fuzzy]

Wintershall Dea fant olje vest for Mariafeltet i Norskehavet - E24 Aksjelive

DNO har 30%. Kan vel regne $6-8 pr fat her mtp nærhet til andre felt. Da burde DNO kunne “poppe” før Påska synges inn…

[Autolock]

Har de begynt med tilbakekjøp av egne aksjer enda?

[VargVemund]

De har gjort tilbakekjøp ganske lenge, de hadde i hvert falt noen tilbakekjøp i høst. Hvis ikke det er noe spesielt du tenker på? I så fall spør du noen andre her inne for jeg er ikke oppdatert

[tjoff]

nei de har ikke kjøpt tilbake siden sist gang. Det ble på EOGF vedtat å slette de tilbakekjøpte aksjene, dette er nå mest sannsylig noe som ligger på vent hos brreg, det er ihvertfall ikke registrert der enda, og da har de ikke mulighet til å handle, enn så lenge siden de allerede har 10% egne aksjer. Heller tvilsomt at DNO kjøper tilbake med det første uansett, nå handler nok det meste om å bevare likviditeten, så kan tilbakekjøp starte igjen når olja er i 50 USD+

[hgsd300]

Begynner og kjøpe DNO når den passerer 3 på vei nedover.

[UNO]

http://nrttv.com/En/News.aspx?id=20918&MapID=1

[TekBot]

DNO Completes Baeshiqa Testing, Prepares to Spud Next Well

Oslo, 6 May 2020 - DNO ASA, the Norwegian oil and gas operator, today announced
completion of testing and appraisal of the Baeshiqa-2 exploration well in the
Kurdistan Region of Iraq and the imminent spud of an exploration well on a
…

Vis børsmeldingen

separate prospect, Zartik, located 15 kilometers southeast on the same license.
The testing has proven oil and gas in three separate Triassic aged reservoirs.
Evaluation of the test results will determine next steps towards further
appraisal and assessment of commerciality.

As previously reported, in November 2019 DNO issued a notice of discovery to the
government that hydrocarbons had been flowed to surface from the upper part of
Triassic Kurra Chine B reservoir during first phase of testing. The reservoir
produced between 900 and 3,500 barrels of oil per day (bopd) with specific
gravity ranging between 40(o) and 52(o )API and sour gas between 8.5 to 15
million standard cubic feet per day (MMcfd).

Following a workover and acid stimulation, testing resumed in March 2020 in
three other separate Triassic aged reservoirs with each flowing variable rates
of light oil and sour gas, too.

During the second phase of testing, the lower Kurra Chine B reservoir produced
between 600 to 3,500 bopd with specific gravity ranging between 47(o) and 55(o
)API and sour gas between 4 to18 MMcfd. The test demonstrated that the upper and
lower Kurra Chine B reservoirs are in communication, proving a hydrocarbon-
bearing reservoir interval of around 150 meters.

The Kurra Chine A reservoir flowed between 950 to 3,100 bopd of 30(o) to 34(o)
API and sour gas ranging from 1.8 to 3.6 MMcfd from a hydrocarbon-bearing
reservoir interval of 70 meters.

The Kurra Chine C reservoir was the deepest encountered in the well covering
only 34 meters of what is expected to be a thicker reservoir of around 200
meters. The drilled interval has been exposed to significant fracture damage due
to the pumping of lost circulation material. The reservoir produced between 200
to 1,200 bopd of 52(o )API gravity and sour gas between 3.8 to 6 MMcfd.

Shallower Jurassic aged reservoirs were encountered during drilling and tested.
However, the tested zones were not acid stimulated, and the results are
inconclusive. The well was spud in February 2019 and drilled to a total depth of
3,204 meters (2,549 meters TVDSS), encountering almost a kilometer of fractured
carbonates with poor to good oil shows. Baeshiqa-2 well was drilled safely,
below budget and with all exploration objectives achieved.

The Zartik-1 well is anticipated to spud on 15 May 2020. Site construction was
completed ten days ago on time and below budget.

DNO acquired a 32 percent interest and operatorship of the Baeshiqa license in
2017. Partners include ExxonMobil with 32 percent, Turkish Energy Company with
16 percent and the Kurdistan Regional Government with 20 percent.

–

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

–

DNO ASA is a Norwegian oil and gas operator focused on the Middle East and the
North Sea. 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, Netherlands, Ireland and Yemen.

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

Kilde

[TekBot]

Notice of Annual General Meeting 2020

?Oslo, 6 May 2020 - DNO ASA, the Norwegian oil and gas operator, today announced
that the Annual General Meeting scheduled for 27 May 2020 will be held at 3:00
pm at the Company’s offices located at Dokkveien 1, Oslo.
…

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The formal notice of the Annual General Meeting is attached.

Due to the extraordinary situation with Covid-19, shareholders are strongly
encouraged not to attend the Annual General Meeting in person. Shareholders are
instead asked to vote by electronic advance voting or submission of a proxy
prior to the meeting.

Shareholders should also note that the Company reserves the right to conduct the
meeting as an electronic meeting.

The Company refers to the attached notice for further information on the
proceedings of the Annual General Meeting. Any changes to the proceedings will
be published on the Company’s website.

The electronic system for notification of attendance and for registration of
advance votes is available at the following link: Electronic registration
(https://eur04.safelinks.protection.outlook.com/?url=https%3A%2F%2Finvestor.vps.
no%2Fgm%2FlogOn.htm%3Ftoken%3Db8a3e57ca638cc3a6ed2fc9d7a207e54ed3952ef%26validTo
%3D1593176400000%26oppdragsId%3D20200504VPW58SU0&data=02%7C01%7Ckjersti.kaurin%4
0dno.no%7C0a8cc91a019b47ad733e08d7f0ef2c01%7Ca5e274c36edc4b3494d69fd987896240%7C
1%7C0%7C637242782334914001&sdata=o4YFfEeUj4zdgFQ7DR%2BLr8nHIDhxrCRWKnL%2FAYHOO5s
%3D&reserved=0)

–

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

–

DNO ASA is a Norwegian oil and gas operator focused on the Middle East and the
North Sea. 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, Netherlands, Ireland and Yemen.

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

Kilde

[TekBot]

DNO Reports 35 Percent Cut in 2020 Spend, Bolstering Cash Position

Oslo, 7 May 2020 - DNO ASA, the Norwegian oil and gas operator, today reported
that it had identified and implemented 2020 budget cuts of USD 350 million or
35 percent across all spend categories as the Company moved early and quickly to
…

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protect its personnel and operations and preserve its cash position in response
to the the devastating impact of the coronavirus pandemic. The Company exited
the first quarter of 2020 with a cash balance of USD 543 million, up from USD
486 million at yearend 2019.

In releasing its interim first quarter results, DNO reported revenues of USD
206 million largely driven by lower oil prices and a net loss of USD 40 million
on the back of impairments of its North Sea assets, again driven by lower oil
prices. Notwithstanding the turmoil in the oil industry, DNO delivered strong
operational metrics with production split 80:20 between the Kurdistan region of
Iraq and the North Sea.

DNO’s Company Working Interest (CWI) production averaged 99,857 barrels of oil
equivalent per day (boepd) in the quarter, of which Kurdistan contributed
81,221 barrels of oil per day (bopd) and the North Sea 18,636 boepd. Gross
production at the DNO-operated Tawke and Peshkabir fields averaged 61,493
barrels and 53,714 bopd, respectively, as DNO hit the brakes on spending. After
completing five development wells in the license during the quarter, DNO
released four drilling rigs in Kurdistan but continues to utilize the Company-
operated workover rig to service production wells, some of which have been shut
in given current oil prices and payment delays. A drilling rig has been cold
stacked at each field and can quickly be mobilized if conditions warrant.

The Company has had recent successes with the drill bit. In the North Sea, the
Bergknapp exploration well (DNO 30 percent) discovered hydrocarbons in multiple
formations of poor to good reservoir quality with recoverable resources ranging
26-97 million barrels of oil equivalent (MMboe); the near-field discovery is
Norway’s largest to date in 2020 and with high probability of commerciality.

In Kurdistan, the Company has reported a discovery in its operated Baeshiqa-2
exploration well after flowing variable rates of light oil and sour gas to
surface from three Triassic aged reservoirs. Evaluation of test results will
determine next steps towards further appraisal and assessment of commerciality.
Additionally, a third well on the license will spud mid-month, with its primary
target a shallower Jurassic formation on a separate structure (Zartik).

Meanwhile, the Peshkabir-to-Tawke gas capture, transport and reinjection project
to effectively end CO(2 )emissions at Peshkabir (and therefore in DNO’s
Kurdistan operations) and boost oil recovery at Tawke is completed and
undergoing commissioning.

To achieve budget reductions, DNO has deferred most discretionary drilling and
capital projects across the portfolio and continues to identify and capture cost
savings. In the United Kingdom, no drilling is planned and the balance of the
Schooner and Ketch decommissioning program has been suspended and deferred to
2021/2022. The Company has renegotiated service contracts for savings and
extended payment terms where it operates, and is in continuous discussions with
partners in the North Sea to reduce operating and other costs and defer non-
critical projects where it does not operate. DNO’s 2020 North Sea drilling
campaign has been scaled back and wells deferred, but firm plans remain in place
for wells in five licenses over the balance of the year, including two
exploration, one appraisal, two infill and two development/geopilot wells.

To further strengthen its cash position, the Company has also drawn USD 115
million from its reserve-based lending facility to fund North Sea operations and
has suspended its dividend program.

Last month, DNO received USD 90 million for Kurdistan oil exports, not included
in the end of first quarter cash balances. Entitlement and override payments for
November 2019 through February 2020 (total USD 233 million) remain outstanding,
which the Kurdistan Regional Government has proposed to defer together with
override payments commencing March 2020, given the deterioration of its own
fiscal position with the collapse in oil prices. DNO is following up to agree
acceptable terms for such deferment and also timing of payments of the sums in
arrears.

“One of the first to hit the brakes, DNO is positioned to be one of the first to
press down on the accelerator with signs of sustained market recovery, notably
through short-cycle drilling in Kurdistan,” said Bijan Mossavar-Rahmani, DNO’s
Executive Chairman. “Lifting costs below USD 5 per barrel in Kurdistan give DNO
competitive advantage when oil prices are weak and strong cash flow when oil
prices recover,” he added.

–

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

–

DNO ASA is a Norwegian oil and gas operator focused on the Middle East and the
North Sea. 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, Netherlands, Ireland and Yemen.

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

Kilde

[tjoff]

as DNO hit the brakes on spending. After
completing five development wells in the license during the quarter, DNO
released four drilling rigs in Kurdistan but continues to utilize the Company-
operated workover rig to service production wells, some of which have been shut
in given current oil prices and payment delays.

Entitlement and override payments for
November 2019 through February 2020 (total USD 233 million) remain outstanding,
which the Kurdistan Regional Government has proposed to defer together with
override payments commencing March 2020, given the deterioration of its own
fiscal position with the collapse in oil prices. DNO is following up to agree
acceptable terms for such deferment and also timing of payments of the sums in
arrears.

[Nocturne]

Er du inne i denne enda?

[odin1]

Har du troa på denne fremover ?

[Paddy80]

Akkurat nå er jeg ikke inne i noe, jeg har hatt en fin runde i Nekkar og fått hentet litt kroner i DNO og Kitron, samt tapt litt på bear osx. Så nå har jeg ikke snøring på hva jeg vil inn i!?

Edit: men jeg har troen på DNO på litt sikt og jeg mener xxl kan gjøre det bra. Oljen kommer jo til å stige mer neste årene og jeg er sikker på Ola Normann kommer til å kjøpe treningsutstyr sykler og telt når de skal feriere i Norge minst i år

[Astrup]

Her er DNO tråden:

sjatten.no

[Nocturne]

Jeg tok noen lodd her i dag etter tips fra @Hocki - vi så det samme i chartet. Ligger i en ascending triangle og har et saftig gap opp mot 6 kr. Er flere analyser ute nå som har kursmål på 6-8 kr. Ser den enorme volumspiken i april, og kvartalsrapporten som ble godt mottatt.

Må bryte over 5 kr for å bekrefte formasjonen, har vært en del fake-outs, så jeg kommer til å sitte barnevakt for posisjonen i morgen. Brudd ned fra formasjonen vil være SL and out for min del.

[odin1]

Har og lagt merke til at aksjen har begynt og gått «trangt « siste dagene
Gått kun mellom 20-30 øre
Regner med den bryt opp nå

[Paddy80]

It looks like risk appetite for E&Ps has come back. Historically, DNO has lagged the VIX index. Will is do so this time as well? If so, there is plenty of upside potential.
We see five reasons for why one should take a look at DNO now. We upgrade DNO to Buy from Neutral. Our target price of NOK 7/share corresponds to P/NAV of 0.6x
and 2021P/E just north of 5x.

1. Increased risk appetite is positive for DNO: The VIX index has declined from above 80 to below 30. The current level is still high in a historical context. However, we
   note that the two last times the VIX has index has more than halved (Q1 18 and Q1 19), the DNO share has rallied in the following moths. When market volatility has
   been very high, it looks like the DNO share price is lagging the VIX, not moving simultaneously.

2. Outlook for strong 2021 free cash flow: Thanks substantially reduced spending in 2020 and likely a low spending level in to 2021, combined with outlook for
   significantly higher oil prices, we see potential for substantial 2021 free cash flow. If investments are kept low in 2021, we forecast a free cash flow in excess NOK
   3/share. That estimate takes into account accelerated Tawke decline.

3. Temporary NCS tax change may trigger cash payback for DNO: The Norwegian Government has (as expected) proposed an adjustment for the NCS tax system to
   incentives for activity in the current industry downturn. The proposal includes 2020-21 capex and investments related to PDOs approved during 2022. The key
   elements of the proposal are: 1) Immediate tax allowance of capex and uplift in the calculation of the petroleum tax, 2) uplift reduced from 20.8% to 10.0% and 3)
   the value of tax losses for 2020-2021 will be paid out (i.e., as if the company was ceasing its activity on the NCS). The proposed change will have a positive liquidity
   effect of NOK 100bn for 2020-2021, according to the government. Additionally, we note that the capex tax shield for 2020-21 will be reduced from 89.6% to 83.6%.
   For DNO, the cash back for the tax losses for 2020-2021 is the most relevant in the tax proposal. As DNO does nor report the specific tax balances for NCS, we do
   not know the exact numbers. However, based on our rough estimates, we forecast USD 45-65m (NOK 0.4-0.6/share) cash repayment for NCS 2020 activities. Such a
   payment will boost short term liquidity, but also increase long-term tax payments related to the NCS business.

4. Bond repayment in June an easy match: In June 2020 the DNO 01 USD 140mbond is. Thanks to a good cash position of USD 543m by end Q1 20, the repayment
   should be easy match. Even without any addition KRG payments in H1 20, we forecast a Q2 20 cash position north of USD 100m after repayment of the bond in
   June.

5. KRG commitment confirmed: Despite low oil prices recently, KRG has recently paint oil companies for its March oil sales. The received payments were roughly in
   line with our estimates. More interestingly, it is now clear that the international oil companies are in discussions with KRG regarding a payment mechanism and it
   looks like KRG has a clear commitment to pay oil companies.