DNO's shares were up 0.9% in mid-morning trading on the Oslo stock exchange, following the release of July production figures.
DNO’s working interest production increased from 23,478 bopd in June to 27,279 bopd in July, and net entitlement production increased from 15,135 to 17,621 bopd. The increase is mainly due to higher deliveries of crude oil from the Tawke field to the local market in the Kurdistan Region of Iraq.
As previously stated, deliveries from Tawke may fluctuate significantly going forward, and DNO is expecting somewhat decrease in the August deliveries.
Production from Yemen
DNO's working interest production in Yemen in July 2010 was 6,489 bopd and the net entitlement production was 3,761 bopd.
Production in Yemen is reported as follows:
The production figures include crude oil consumed in the operation of the Company’s production facilities, at an accumulated working interest volume of 283 bopd and net entitlement volume of 145 bopd in July 2010.
Production from the Kurdistan Region of Iraq
DNO's crude oil deliveries on working interest basis from the Tawke field in the Kurdistan Region of Iraq were 20,790 bopd in July. DNO’s net entitlement deliveries were 13,860 bopd.
Production from Tawke is reported as follows:
The production figures include crude oil consumed in the operation of the Company’s production facilities, at an accumulated working interest volume of 113 bopd and net entitlement volume of 75 bopd in July 2010.
DRILLING AND WELL OPERATIONS
In Block 32, the Godah-11 Qishn production well has been completed. The rig was released on Friday 19 August and is currently undergoing inspections before continuing drilling operations. The next well to be drilled using this rig will be an exploration well on the Safa prospect in Block 32.
In Block 53 the production well Bayoot-10 was spudded on 23 July with Rig 919, and the drilling operations is progressing towards the Basement target as planned.
Kurdistan Region of Iraq
The next well to be drilled in the Kurdistan Region of Iraq is an exploration well in the Erbil license, on the Bastora prospect, to the east of the Benenan oil discovery. This well will be drilled with the GW-9 drilling rig and expected spud of the Bastora-1 well is during September.
As previously reported, drilling of the Summail-1 exploration well in the Dohuk license is expected to commence during fourth quarter 2010 with the GW-10 drilling rig, subject to the release of the rig which is currently seconded to another operator.
A drilling rig has now been secured for the exploration well planned to be drilled in the Inhaminga Block in Mozambique. Expected spud of this well is during November.