DNO’s Kurdistan Output Dips in November

DNO reports a working interest (WI) production of 9,883 bopd in November. The November net entitlement production was 6,355 bopd at an average realized oil price of USD 62 per barrel.
As the local sales from the Tawke field recommenced in the beginning of December, the Company expects a WI production of around 20,000 bopd in December and around 16,000 bopd in the fourth quarter.

Yemen production

DNO’s WI production in November 2010 was 6,256 bopd and the net entitlement production was 3,937 bopd.
Production is reported as follows:

The production figures include crude oil consumed in field operations at an accumulated WI volume of 300 bopd and net entitlement volume of 182 bopd in November 2010.

Kurdistan production

DNO’s WI production from the Tawke field in November 2010 was 3,627 bopd and DNO’s net entitlement production was 2,418 bopd.
Production is reported as follows:

The production figures include crude oil consumed in field operations at an accumulated WI volume of 89 bopd and net entitlement volume of 59 bopd in November 2010.

As previously reported, the gross deliveries from Tawke in November were restricted to the Tawke refinery output at approximately 4,000 bopd. Deliveries of crude oil to the local market from Tawke recommenced at the beginning of December. Based on December lifting of crude oil to date, DNO expects gross deliveries of approximately 17,000 bopb from Tawke in December.

DRILLING AND WELL OPERATIONS

Yemen

Gabdain-1 basement exploration well in Block 72 commenced drilling on 19 November. Drilling operations are progressing as planned and the well is expected to be at total depth at end of December or beginning of January.

Kurdistan Region of Iraq

Drilling of exploration well Bastora-1 in the Erbil licence commenced on 7 September. Drilling operations are progressing as planned and total depth is expected to be reached in early January 2011. Based on observations during drilling through some of the target zones, DNO expects that several production tests will be carried out in this well. The final test programme will be decided once the well has reached total depth.
The Summail-1 exploration well in the Dohuk license is still expected to commence during first quarter 2011. The spud date is dependent on release of the rig which is currently seconded to another operator.

Mozambique

Drilling of the Chite-1 well in the Inhaminga licence commenced on 19 November. The drilling operations are ahead of plan and the total depth is expected to be reached in late December or early January.

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