OSLO, Jan 20 - DNO International (DNO.OL) said:
* Its net entitlement production in Yemen amounted to 5,294 barrels of oil per day in December. In the fourth quarter it stood at 5,344 barrels per day, up from 5,122 in the third. Year-to-date production in 2008 amounted to 5,937 barrels/day.
* In Yemen, the Raoq No. 1 exploration well encountered strong indications of hydrocarbons while drilling the Basement section. "As a result of these observations an extensive test program will be carried out in the well."
* Due to temporary stop in production from the Tawke field in northern Iraq in the third quarter, revenue entitlement in the fourth quarter increased by 37 percent quarter-on-quarter to 53 million Norwegian crowns ($7.62 million).
* The achieved oil price in Kurdistan was at a constant level in 2008 despite significant market oil price fluctuations.
* As previously announced, the Kurdistan Regional Government authorized DNO to proceed with the remaining activities in preparation for export. These activities have been pursued in close cooperation with relevant authorities and the final tie-in construction work to the export pipelines is "progressing well."
* Its net entitlement production in Yemen amounted to 5,294 barrels of oil per day in December. In the fourth quarter it stood at 5,344 barrels per day, up from 5,122 in the third. Year-to-date production in 2008 amounted to 5,937 barrels/day.
* In Yemen, the Raoq No. 1 exploration well encountered strong indications of hydrocarbons while drilling the Basement section. "As a result of these observations an extensive test program will be carried out in the well."
* Due to temporary stop in production from the Tawke field in northern Iraq in the third quarter, revenue entitlement in the fourth quarter increased by 37 percent quarter-on-quarter to 53 million Norwegian crowns ($7.62 million).
* The achieved oil price in Kurdistan was at a constant level in 2008 despite significant market oil price fluctuations.
* As previously announced, the Kurdistan Regional Government authorized DNO to proceed with the remaining activities in preparation for export. These activities have been pursued in close cooperation with relevant authorities and the final tie-in construction work to the export pipelines is "progressing well."
