Oslo, 8 September 2014 – DNO ASA, the Norwegian oil and gas operator, today announced that it has been granted a two-year extension of the term of its production sharing agreement for Block SL18 in Somaliland. The first exploration period will now end on 8 November 2017.
Block SL18, in which DNO has a 50 percent stake as operator, is a frontier exploration block. The partners have completed field survey and environmental assessment studies over the block and will initiate a planned seismic acquisition program once the Government of Somaliland has put in place a planned Oil Protection Unit (OPU) to support the international oil companies operating in Somaliland. The OPU is expected to be operational in 2015.
In the interim, security conditions permitting, DNO will resume a development program focused on drilling water wells to provide local communities in the areas covered by Block SL18 with potable water.
— DNO ASA is an Oslo-listed, Middle East and North Africa focused oil and gas company holding stakes in 20 blocks in various stages of exploration, development and production both onshore and offshore in the Kurdistan Region of Iraq, the Republic of Yemen, the Sultanate of Oman, the United Arab Emirates, the Tunisian Republic and Somaliland —
Oslo, 8 September 2014
Queries: Bjorn Dale (email@example.com or ph: +47 911 57 197)
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.