DNO, Genel, Update on Kurdistan Operations

DNO International ASA, the Norwegian oil and gas company, announced today that it has completed drilling of the Peshkabir-1 exploration well in the Kurdistan Region of Iraq and is preparing to test observed oil shows across three potentially producing intervals.

Full and sidewall cores suggest a continuous hydrodynamic column within the Cretaceous interval and the additional shows in the Jurassic and Triassic intervals are the first encountered by the Company at lower depths in the Tawke license.

The Peshkabir-1 well was designed to probe a large undrilled feature west of the currently producing Tawke field. It reached total depth of 4,092 metres, the deepest well yet for the Company in Iraq. The well was spudded in September 2011. Wireline logging and coring operations are underway and will be followed by a minimum of five planned flow tests, two in the Triassic, one in the Jurassic and two in the Cretaceous.

In providing further updates on drilling and other operations across its portfolio, the Company announced that the Tawke-15 well, drilled and completed in the Cretaceous in 2011 but previously shut in due to low productivity, has now tested 7,000 barrels of oil per day following a just-completed workover operation. The well has been connected to the existing pipeline and processing facilities, further boosting Tawke field deliverability.

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