Q4 2022 Trading Update and also Invite to Incomes Call

January 17, 2023

DNO ASA

DNO ASA

Oslo, 17 January 2023 — DNO ASA, the Norwegian oil and also gas driver, will certainly release its Q4 and also full-year 2022 operating and also acting monetary outcomes on 9 February 2023 at 07:00 (CET). A videoconference telephone call with executive administration will certainly adhere to at 11:00 (CET). The Business concerns listed below an upgrade on manufacturing and also sales quantities for the quarter along with various other essential monetary details that will certainly be additional talked about in the incomes telephone call.

Quantities ( boepd)

Gross ran manufacturing

Q4 2022

Q3 2022

Q4 2021

Kurdistan

107,822

109,054

107,472

North Sea

Internet privilege manufacturing

Q4 2022

Q3 2022

Q4 2021

Kurdistan

25,618

24,779

29,367

North Sea

14,976

13,970

13,571

Sales

Q4 2022

Q3 2022

Q4 2021

Kurdistan

25,618

24,779

29,367

North Sea

15,152

11,569

23,289

Equity accounted manufacturing (web)

Q4 2022

Q3 2022

Q4 2021

Côte d’Ivoire

3,470

3,100

Picked capital things

Throughout the quarter, DNO obtained USD 167.3 million web from the Kurdistan Regional Federal Government, of which USD 147.0 million stands for the privilege share of June and also July 2022 petroleum shipments for the Tawke and also Baeshiqa licenses. The equilibrium of USD 20.3 million stands for override repayments comparable to 3 percent of gross June and also July 2022 Tawke permit incomes.

Likewise throughout the quarter, DNO paid 2 tax obligation instalments amounting to USD 3.5 million in Norway and also obtained USD 17.7 million in deactivating tax obligation reimbursements in the UK.

The Business paid a returns of NOK 0.25 per share amounting to USD 25.4 million and also bought very own shares amounting to USD 12.3 million as component of DNO’s share buyback program introduced in December.

Various other things

DNO took part in 2 expedition wells in the North Sea in the quarter. The Uer well in PL 943 on the NCS (30 percent functioning rate of interest) was spudded on 21 September and also finished on 22 October and also has actually been introduced as a completely dry well. The Røver Sør well in PL 923 (20 percent functioning rate of interest) was spudded on 1 December and also boring was still continuous since end of Q4 2022.

DNO finished on 11 October the all-share arrangement with RAK Oil plc for properties in West Africa, complying with which the overall superior shares at the end of the quarter was 1,054,376,509. The payment of these properties will certainly be reported in DNO’s accounts with the equity audit approach. According to the purchase, RAK Oil participated in volunteer liquidation and also dispersed its shares in DNO to investors, consisting of DNO. Along with shares gotten with the share buyback program, the Business held 37,179,183 very own shares in treasury at the end of the quarter.

Incomes call login information

Please see www.dno.no for login information in advance of the telephone call.

Please Note

The details consisted of in this launch is based upon an initial analysis of the Business’s Q4 2022 operating and also acting monetary outcomes and also might go through alter.

For additional details, please call:
Media: [email protected]
Financiers: [email protected]

DNO ASA is a Norwegian oil and also gas driver energetic between East, the North Sea and also West Africa. Established in 1971 and also noted on the Oslo Stock Market, the Business holds risks in onshore and also overseas licenses at numerous phases of expedition, growth and also manufacturing in the Kurdistan area of Iraq, Norway, the UK, Côte d’Ivoire, Netherlands and also Yemen.

This details undergoes the disclosure needs according to area 5-12 of the Norwegian Stocks Trading Act.

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