DNO International ASA - Restarting operations i...
Reference is made to DNO's Stock Exchange Notice dated 21 September
2009 in relation to the notice of the same date (the Notice) from the
Kurdistan Regional Government (KRG) and the attached letter from the
Ministry of Natural Resources (MNR) dated 5 October 2009.
DNO has been in continuous discussions with the KRG over the past
weeks to address the issues raised in the Notice. Based on these
discussions, the Company has sent the following two letters on behalf
of the Board of Directors of DNO International ASA:
* One letter to distinguished leaders in the Kurdistan Region and
Iraq
* One letter to MNR, Kurdistan Region
Both letters are posted on DNO's web site (www.dno.no).
As a result of the attached letter from MNR, DNO's rights to its
production sharing contracts are reinstated with immediate effect.
DNO can thereby resume the role of Operator without any
restrictions. Until a future payment mechanism for crude exports is
in place, DNO will focus on local sales.
All issues with respect to the Notice from KRG have now been resolved
and DNO is looking forward to continuing its successful cooperation
with KRG to the benefit of the Kurdistan Region and all people of
Iraq.
DNO International ASA
6 October, 2009
Contact:
Media:
Helge Eide, MD DNO International ASA Telephone: +47 23 23 84 80
Ketil Jørgensen, Crux Communication Telephone +47 930 36 866
(Norway)
Ben Willey, Buchanan Communications Telephone: +44 207 466 5000
(UK)
Investor Relations:
Haakon Sandborg, CFO DNO International Telephone: +47 23 23 84 80
ASA
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
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