Oslo, 26 August 2022 - DNO ASA, the Norwegian oil and gas operator,
today confirmed an oil discovery on the Ofelia prospect in the Norwegian North
Sea license PL929 in which the Company holds a 10 percent interest. The well
encountered a 73-meter oil column in Lower Cretaceous Agat Formation sandstones
of moderate to good reservoir quality. Preliminary estimates of gross
recoverable resources are in the range of 16-39 million barrels of oil
equivalent. In addition, upsides have been identified in both the Agat Formation
and the overlying Kyrre Formation.
The partners, which in addition to the Company's wholly-owned subsidiary DNO
Norge AS, include license operator Neptune Energy Norge AS, Wintershall Dea
Norge AS, Pandion Energy AS and ABP Norway AS, will consider development of the
discovery with a tieback to the Neptune-operated Gjøa platform 15 kilometers to
the south.
With Ofelia, DNO racks up its third recent exploration success in the Troll-Gjøa
area in the North Sea alongside the 2022 Kveikje (DNO 29 percent) and 2021 Røver
Nord discoveries (DNO 20 percent). The Company is one of the largest holders of
acreage in what has become an exploration hotspot on the Norwegian continental
shelf, with several drill-ready prospects close to existing infrastructure. The
next of these prospects to be tested, Røver Sør, will be drilled in the fourth
quarter of 2022 within the Røver Nord discovery license.
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For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no
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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 and Yemen.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.