DNO International Signs Production Sharing Contract in Somaliland

23.04.2013 – 01:41 | 1218938

 

(Thomson Reuters ONE) – 

Oslo, 23 April 2013 — DNO International ASA (“DNO International”), the
Norwegian oil and gas company, announced today that it has entered into a
Production Sharing Contract (PSC) covering Block SL18 onshore Somaliland.

The President of Somaliland, Ahmed M. Mohamoud Silanyo, and DNO International’s
Executive Chairman, Bijan Mossavar-Rahmani, attended the signing ceremony in
Washington, D.C. yesterday.

“This 12,000 square kilometer block adds substantial exploration acreage to DNO
International’s portfolio and in an area that is both prospective and
undrilled,” said Mossavar-Rahmani.  He added that Somaliland falls within the
Company’s geographic and geological comfort zones. “We have been active across
the Gulf of Aden in Yemen since the late 1990s.”

The Company has initiated studies on Block SL18 ahead of an extensive seismic
program planned for 2014.

— DNO International ASA is an Oslo-listed, Middle East and North Africa
focused, oil and gas company holding stakes in 18 licenses in various stages of
exploration, development and production both onshore and offshore in the
Kurdistan Region of Iraq, the Republic of Yemen, the Sultanate of Oman, the
United Arab Emirates, the Tunisian Republic and Somaliland. http://www.dno.no
—

Oslo, 23 April 2013

DNO International ASA
Corporate Communications

Queries: Tom Bratlie (tom.bratlie(at)dno.no or tel: +47 905 21 904)

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)

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Source: DNO International ASA via Thomson Reuters ONE