Proved and probable oil reserves for the Tawke field, adjusting for 2012 production of 16.6 MMbbls, were 722.2 MMbbls, of which 447.7 MMbbls were net to DNO International on a CWI basis. Also in Kurdistan, proved and probable reserves for the Benenan and Bastora oil discoveries on the Erbil license were 42.1 MMbbls as at 31 December 2012, of which 19.6 MMbbls were net to DNO International on a CWI basis.
In Yemen, proved and probable oil reserves, adjusting for 2012 production of 3.8 MMbbls, were 18.0 MMbbls, of which 8.4 MMbbls were net to DNO International on a CWI basis.
Proved and probable reserves associated with the assets acquired from RAK Petroleum PCL, adjusting for 2012 production of 4.2 MMboe, were at 36.1 MMbbls of oil (including condensate and other liquids) and 254.3 Bcf of natural gas, of which 19.7 MMbbls and 140.1 Bcf were net to DNO International on a CWI basis.
In addition to its class 1-3 2P CWI reserves, the Company held 42.7 MMboe in 2C contingent resources, class 4-5, and 39.9 MMboe in 2C contingent resources class 6-7.
The 2012 Annual Statement of Reserves, published in accordance with Oslo Stock Exchange Circular no. 9/2009, is attached. All volumes in the Annual Statement of Reserves attributable to DNO International are calculated for each asset based on the Company's contractual share of operating expenses and capital costs, including any carried interests and reduced by any royalty burden.
(Source: DNO)
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