Dno

[Paddy80]

Prøver meg litt her igjen nå, synes det er fornuftig priset nå. Oljen må opp etterhvert, forbruket kommer vel til å stige fremover når verden åpner mer opp osv. Blir det trippel bunn på hourly også rundt 4.30?

[Paddy80]

Ligget sidelengs ~1mnd her nå, om oljen kommer seg litt utover sommeren nå så kan jeg tenke meg at kursen kommer seg godt over 5 kroner rimelig snart, det virker fornuftig i min verden

[Paddy80]

Har så lyst å krabbe over 5 nå. Oljen litt nærmere 40 ila neste måneden nå så er vi godt over

[TekBot]

DNO Guides 2020 Production and Spend Ahead of Annual General Meeting

Oslo, 27 May 2020 - DNO ASA, the Norwegian oil and gas operator, today provided
production and spend guidance for the balance of the year ahead of its Annual
General Meeting this afternoon. The Company reported that it has implemented the
…

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target 35 percent reductions across all spend categories to shrink its 2020
budget by USD 350 million to USD 640 million in response to turbulence and
uncertainty in global oil and financial markets triggered by the coronavirus
pandemic. While strengthening its balance sheet, cutbacks in spend will throttle
back 2020 Company Working Interest (CWI) production to a projected 88,000
barrels of oil equivalent per day (boepd), of which the Kurdistan region of Iraq
will contribute 71,000 barrels of oil per day (bopd) and the North Sea 17,000
boepd. DNO’s CWI production averaged 104,800 boepd last year.

In Kurdistan, DNO has reduced the number of rigs deployed in drilling, testing
and workovers from five in 2019 and early 2020 to two; these two rigs are
believed to be the only ones currently active in Kurdistan, down from an overall
count approaching 20 last summer. Of the two active rigs, one is drilling the
Zartik-1 exploration well on the DNO-operated Baeshiqa license and the other is
a Tawke license workover rig that will shortly be moved for scheduled
maintenance. However, two third-party rigs have been warm stacked at the Tawke
and Peshkabir fields and can quickly be mobilized if oil prices climb and export
payments are regularized.

“Our cost cutbacks have been thoughtful and deliberate as we moved at warp speed
to preserve cash and our balance sheet,” said Bijan Mossavar-Rahmani, DNO’s
Executive Chairman. “The resulting reductions in oil production especially in
Kurdistan are reversible with a restart of drilling,” he added. “We have not
lost reserves but simply parked a portion until the market recovers. And it
will.”

Gross production at the DNO-operated Tawke license in the Kurdistan region of
Iraq containing the Tawke and Peshkabir fields, absent drilling of new infill
wells to arrest natural field decline, is expected to average 100,000 bopd in
2020. This reflects a drop from 115,210 bopd in Q1 2020 to 100,000 bopd in Q2
2020 and 90,000 bopd over the balance of the year. The Tawke license exit rate
at yearend 2020 is projected at 85,000 bopd absent new wells. Production
continues to be split 55-45 between the Tawke and Peshkabir fields.

On a CWI basis, DNO’s production in Kurdistan in the second half of the year is
projected to average 65,000 bopd (81,220 bopd in Q1 2020 and an estimated
70,000 bopd in Q2 2020). CWI in North Sea operations will contribute another
17,000 boepd in the second half of 2020 (18,640 boepd in Q1 2020 and an
estimated 17,000 boepd in Q2 2020).

Budget cuts and the newly announced Norwegian production caps are not expected
to make a material change to DNO’s 2020 North Sea projections; the majority of
the Company’s fields subject to the restrictions are not fully utilizing their
previous higher production permits.

DNO ASA 2020 Projected Spend

---

                  Q1 2020     Q2 2020   Q3+Q4 2020     2020        2019

                  Actual     Projected   Projected   Projected    Actual

                USD million USD million USD million USD million USD million

---

Exploration
expenditures 34 36 65 135 187

Capital
expenditures 78 37 40 155 339

Operating
expenditures 59 49 92 200 237

Abandonment
expenditures 17 7 7 31 23

Operational spend 187 129 204 520 786

Other 40 34 46 120 203

---

TOTAL 227 163 250 640 989

Note: Figures above are pre-tax (i.e., before exploration tax refund in Norway).
The category
“Other” includes general and administrative expenditures (G&A), net interest
payments and
dividend distributions.

–

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 Annual General Meeting Held; All Resolutions Passed by Shareholders

?Oslo, 27 May 2020 - DNO ASA, the Norwegian oil and gas operator, today held its
2020 Annual General Meeting at 3:00 pm in Oslo. All resolutions received near
unanimous approval from shareholders. The minutes from the meeting and the newly
…

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approved Articles of Association are attached.

–

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

Kilde

[Bingo123]

Tok sjansen på ny inngang her i dag så får vi se hvordan det går😀

[Paddy80]

Tror det er endel som taler for videre opp her nå, iallefall opp mot 7 kroner i første omgang, med vaksiner under testing fra flere produsenter, EU krisepakke og markeder som buller verden over. Kan fort stå i 6.50 ila dagen

[TekBot]

Invitation to DNO H1 2020 Investor/Analyst Call

Oslo, 23 July 2020 - DNO ASA, the Norwegian oil and gas operator, will publish
its operating and financial results for the first half of 2020 on 30 July 2020
at 07:00 (CET). A teleconference call with executive management will be hosted
…

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at 10:00 (CET). To participate in the call, please sign up at least an hour in
advance by sending an email message with caller details
to investor.relations@dno.no at which time you will be provided a dial-in
number.

Participants may submit questions in advance or during the event by email
to investor.relations@dno.no or pose them in person following the introductory
remarks.

–

For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no
Tel: +47 93 25 63 41

–

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, 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

[Multiple]

Er redd du er litt langt inn i fremtiden. Først skal vi pines gjennom Q2-rapporten den 30 juli.

Kan det bli noe annet enn inntekstfall og nedskrivninger?
Spørsmålet er vel om det blir like ille som man kan frykte, eller om det ikke blir fullt så ille.

Når det gjelder litt lengre fram så er det ikke ventet vaksiner i år. Muligens bedre behandlingsmuligheter. Men det er risiko for økende smitte, som vi allerede ser tegn til, med behov for nye nedstengninger. Så jeg har ikke for store forhåpninger til 2020. Man får ta på 7-mils-brillene.

[Paddy80]

Om kvartalsrapporten kommer til å gi ett sell of så skjønner jeg ingenting, da kommer jeg til å fylle på mer. Det er ikke alle som tjener penger på slike oljepriser, men DNO er en av de.

[Multiple]

Det blir en interessant rapport, der innholdet ganske sikkert kan vinkles på helt ulike måter i overskriftene i avisene.

Det kan bli en mulighet til å laste opp litt for de som har troen på 2021, og ikke frykter et nytt minikrakk i høst/vinter.

[TekBot]

DNO Steps Up Activity; Releases Second Quarter 2020 Results

Oslo, 30 July 2020 - DNO ASA, the Norwegian oil and gas operator, today reported
stepped up investments across its portfolio on the back of higher production and
significantly improved liquidity outlook as the Company recovers from the oil
…

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market turmoil that upended the second quarter of 2020.

Operated production in July at the Company’s flagship Tawke license in the
Kurdistan region of Iraq is up 15,000 barrels of oil per day (bopd) month-on-
month to 115,000 bopd following a well intervention campaign fast tracked in
June with the stabilization of oil prices and improved export payment terms. In
the North Sea segment, DNO projects receipt of USD 215 million in tax refunds in
the second half of the year, including USD 70 million from the recently
announced temporary changes to petroleum taxation in Norway.

“The worst of the coronavirus pandemic hit to our business is behind us and DNO
is back identifying and capturing opportunities,” said Bijan Mossavar-Rahmani,
DNO’s Executive Chairman. “Still, we are prepared to act quickly, as we did in
March, if a strong second wave comes,” he added.

Second quarter Company Working Interest (CWI) production stood at 89,700 barrels
of oil equivalent per day (boepd) of which Kurdistan contributed 71,900 bopd and
the North Sea 17,800 boepd.

Gross operated Tawke license production averaged 102,000 bopd, including 58,100
bopd from the Tawke field and 43,900 bopd from the Peshkabir field, together
down 11 percent from the first quarter as development activity dropped off to
preserve cash at a time of historically low and uncertain oil prices.

Second quarter revenues slid to USD 72 million and operating losses climbed to
USD 81 million, both driven by weak commodity prices across the portfolio and
lower cargo liftings of produced oil in the North Sea.

At the Baeshiqa license in Kurdistan, DNO continued drilling the third
exploration well on a second structure (Zartik) some 15 kilometers southeast of
the Baeshiqa-2 discovery well. The rig has been released and testing will
commence in August in Lower Jurassic and Upper Triassic zones intersected by the
well and expected to last three months. Evaluation of the Baeshiqa-2 results is
ongoing to determine commerciality.

During the first half of 2020 DNO received a total of USD 224 million in
payments from the Kurdistan Regional Government. In addition, the Company
received a USD 23 million June entitlement payment after the end of the
reporting period. Discussions are ongoing to reach an agreement on acceptable
terms and timing of payment of arrears totaling USD 240 million due to DNO for
the November 2019-February 2020 entitlements and November 2019-June 2020
override payments. Notwithstanding the interruption of these payments and DNO’s
repayment of the remaining USD 138.5 million of the DNO01 bond at maturity on
18 June 2020, the Company exited the first half of 2020 with a strong cash
balance of USD 427 million. Net debt at the end of the second quarter stood at
USD 537 million, down from USD 559 million at the end of the first quarter.

Last month, DNO commissioned the Peshkabir-to-Tawke gas reinjection project, the
first enhanced oil recovery project in Kurdistan, to unlock additional oil
volumes at Tawke while significantly reducing gas flaring and CO(2 )discharges
at Peshkabir.

Prompted by the tax changes in Norway, the Company is working with partners to
accelerate infill drilling at the Ula, Tambar and Brage producing fields,
revisit development options for the Brasse field and actively evaluate the
Iris/Hades, Fogelberg and Trym South discoveries.

DNO will remain an active explorer in the North Sea, targeting 4-6 wildcat wells
a year.

For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no
Tel: +47 23 23 84 80

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

[Multiple]

Paddy80: Men analytikerne venter negativt driftsresultat og nettoresultat i 2020, selv om de var for optimistiske for Q2.
Hvordan kan DNO da tjene penger på de oljeprisene vi har hatt?

Den store forskjellen fra 2019 Q2 synes å være at Revenues er ned fra 265 til 72, mens Cost of goods sold bare er litt redusert fra -133 til -125.
Dermed ender de på Profit/loss from operating activities på -80 mot +99 i 2019.
Det passer ikke helt med at DNO skryter av å ha vært raskt ut med å redusere kostnader. De kommer nok til å tjene penger fremover når prisene øker, men synes tallenes tale ikke passer helt med hvor positivt de omtaler 2020.

[Paddy80]

Når oljeprisene var nede mot 20 tallet så stopper vel det meste opp slik situasjonen var, så det er vanskelig å få noe ut av en sammenligning ved samme tid i fjor. Tawke feltet har vel isolert sett en break even på rundt 30 dollar, og nå skal de jo øke aktivitet og investering fremover gitt at oljeprisen holder seg brukbart oppe. Det kommer vel også noen skattefordeler etterhvert her også som bidrar positivt. DNO har også flere ben å stå på nå enn for noen år tilbake, mens toppen også er nådd på Tawke som har vært den viktigste bidragsyteren i mange år. Det blir spennende å se om de har teften videre på nye prosjekter, på litt sikt så har jeg troen på god avkastning.

[antzzo]

Positivt cash flow i Q2.

DNO har fått betalningar för Tawke och kommer även få för de dom har rätt till.

Oljepriser stabiliserar sig.

Tidsfråga innan DNO står i 10+ nok igen.

[Autolock]

Noen som vet hva shorten er satt på? Må være den som bremser oppgangen.

[Paddy80]

Oversikt over short finner du jo her:
https://ssr.finanstilsynet.no/Home/Details/NO0003921009

Er en del endringer gjennom sommeren, så kursmessig må de begynne å slite litt snart, og oljeprisen jobber mot de nå iallefall. Vi får håpe på en verden uten de store nedstengningene og at medisin og vaksine kommer på banen i større grad.

[Autolock]

Begge de posisjonene ligger rundt dagens kurs såvidt jeg kan se. Kan fort bli trangt i døra hvis det kommer en godmelding.

[Paddy80]

Sammenligning brentpris vs DNO siden juni.

[Autolock]

https://www.kurdistan24.net/en/news/708147f9-94af-432c-ad5c-2a57b5b6f7a2