Genel Energy Share Discussion Threads

[d1nga] 24/8/2017 07:42

Oslo, 24 August 2017 - DNO ASA, the Norwegian oil and gas operator, today announced half-year 2017 revenues were up 43 percent from the same period last year following regular export payments in the Kurdistan region of Iraq. Free cash flow jumped four-fold to USD 157 million on operated production of 114,000 barrels of oil equivalent per day (boepd) during the first half of the year.

DNO's cash balance rose USD 120 million during the first six months to USD 381 million, reducing net debt to USD 19 million. Planned 2017 capital expenditures have been increased to USD 130 million, up from the guidance set earlier this year of USD 100 million.

The Company mobilized a third rig as part of an expanded drilling program at its flagship Tawke field comprising 10 production wells in 2017, of which six are deep Cretaceous and four shallow Jeribe wells.

Also on the Tawke license, the Peshkabir-2 well has been producing from the Cretaceous reservoir at a steady rate of 4,700 barrels of oil per day (bopd) of 28° API crude oil since June. The well can produce an additional 2,500 bopd of 24° API crude oil from the Jurassic reservoir.

The Peshkabir-3 well, spud in July, is drilling at 2,400 meters towards target depth of 4,000 meters to appraise the northern extension of the Cretaceous reservoir. An early production facility has been acquired for installation at the field, with both Peshkabir wells planned onstream by year-end and two additional wells planned in 2018.

Elsewhere, the Company will participate in Norway's two upcoming licensing rounds in the autumn and expects to add to its 11 North Sea licenses acquired earlier this year.

Offshore Oman, the West Bukha-5B well was drilled to 4,500 meters and tested oil but would not flow naturally and has been shut in pending completion of artificial lift studies. The Company has impaired the drilling costs in its half-year accounts. Separately, the Bukha-1 well umbilical replacement and production reinstatement is nearly complete.

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For further information, please contact:
Media: [e-mail]
Investors: [e-mail]
Tel: [phone]

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DNO ASA is a Norwegian oil and gas operator focused on the Middle East-North Africa region and the North Sea. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, Oman, Somaliland, Tunisia, Yemen and the United Kingdom.

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This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Half-Year 2017 Interim Presentation
Half-Year 2017 Interim Report

[d1nga] 24/8/2017 07:38

Yes panagos 8am there is 7 am here- it should be out by now- I work for a norwegian company , they're quite laid back lol - an aside DNO is known as Dodgy Norwegian Operator in the N Sea workforce

[kulvinder] 24/8/2017 07:38

Can't find anything on DNO, I thought Norway were an hour in front of us?

[panagos] 24/8/2017 07:35

that is 7 a.m. London time, no?

[panagos] 24/8/2017 07:35

DNO ASA will release its half-year 2017 results to the Oslo Stock Exchange at 08:00 am CET on 24 August 2017.

[gregpeck7] 24/8/2017 07:33

8am mate I think

[panagos] 24/8/2017 07:28

Nothing yet.

[gregpeck7] 23/8/2017 22:40

This is the link you need for 7am tomorrow chaps

[kulvinder] 23/8/2017 18:01

Anything good out of DNO in the morning and we will see £1.50 sooner then you think, easy £2.00 by end of year as the brokers are falling over themselves raising their ratings of GENL, but they will be well behind the curve by then.

[gregpeck7] 23/8/2017 16:47

Oil flying and enl flying. Next leg up underway now.

[filterwest] 23/8/2017 15:46

Oil is slightly up too!

[filterwest] 23/8/2017 15:44

Agree, this will breakout.

[traidemark] 23/8/2017 15:37

Breakout territory now. If it holds here I think we are in for a sharp move forward.

[gregpeck7] 23/8/2017 14:56

I think it could be about to pop to 130..

[rangor] 23/8/2017 14:23

Well I ended up topping up at 1.26. Hoping for good news tomorrow.

Still a fair way to go before I break even. Been in this roller-coaster for many years now, and I'd love it if got to £4.80! In the mean time I'm hoping for over £1.50 in the next few months.

[kulvinder] 23/8/2017 12:03

I keep waiting for the blue sky all way up to my exist price of £4.80....

[m5] 23/8/2017 12:01

£1.33 recent high is the next potential area of resistance, followed by £1.46, then there is a lot of blue sky!

[ihavenoclue] 23/8/2017 11:19

Teamwork... Are you going to mention every figure that it needs to break to go higher as it is bloody obvious the share price needs to go north to rise!!!!!

[teamwork1] 23/8/2017 11:16

Now it needs to break 127

[gregpeck7] 23/8/2017 10:39

6 hours left to buy before dno hopefully blow the roof off.. is tawke at 120,000 bopd with pesh? I think it could be

[gregpeck7] 23/8/2017 10:26

I think some traders have been caught out here

[panagos] 23/8/2017 09:54

in an hour or two...

[gregpeck7] 23/8/2017 09:49

130 next stop