Diskussionsforum der stw-boerse: Auslandswerte: DNO International, WKN: 865623: Archivierte Beiträge bis 13. Juli 2011
chinaman - Dienstag, 19. Januar 2010 - 21:19
Das "Ballungsrisiko" sehe ich schon. Ein starker Ölpreiseinbruch wegen eines weiteren Konjunktureinbruches.

al_sting - Mittwoch, 10. Februar 2010 - 09:36
Die Aktie bleibt politisch und hochinteressant:

Iraq to Allow Kurds to Resume Oil Exports; DNO Surges (Update2)
February 09, 2010, 06:05 PM EST (Adds Kurdish comment in second paragraph.)

By Kadhim Ajrash

Feb. 9 (Bloomberg) -- Iraq, holder of the world’s third- largest crude reserves, will resume oil exports from the northern Kurdish region “soon” after the government agreed to the local authority’s proposal on a payment method.

The government instructed the State Oil Marketing Co. to resume exports from the Kurdish region “immediately,” Oil Minister Hussain al-Shahristani said today in Baghdad. Kurdish Regional Government Minister for Natural Resources Ashti Hawrami said by telephone that it’s “awaiting an official response.”

Iraq accepted a Kurdish proposal on payments to producers working in the semi-autonomous region, al-Shahristani said without providing details. The KRG last month proposed that the government pay Norway’s DNO International ASA and other producers in northern Iraq directly or for the revenue to pass through the Kurdish authorities.

“I hope we can restart exports soon,” Hawrami said. “We all can use some good news and we’re ready to contribute to the Iraqi economy.”

DNO shares surged as much as 16 percent in Oslo trading after the announcement. DNO spokesman Ketil Joergensen declined to comment on today’s announcement, saying that the company would issue a statement once it hears from the KRG. “We don’t have a direct relationship with Baghdad,” he said.

The Kurdish region has capacity to export about 100,000 barrels of oil a day and may start pipeline expansion work to more than double that this year, Hawrami said. Production capacity is at 250,000 barrels a day from two producing areas.

Companies like DNO and Genel Enerji AS halted oil exports from the semi-autonomous Kurdish region in October, about four months after they started, because there was no mechanism in place for payments to producers.

Exports from the Kurdish region started flowing through federal government-run pipelines last year and revenue from the sales went to state coffers. Shipments out of Kurdistan reached a peak of about 80,000 to 90,000 barrels a day before they were shut down, the KRG’s Hawrami said.

--With assistance from Anthony DiPaola and Maher Chmaytelli in Dubai and Marianne Stigset in Oslo. Editors: Jonas Bergman, Randall Hackley

To contact the reporter on this story: Kadhim Ajrash in Baghdad at kajrash@bloomberg.net.

To contact the editor responsible for this story: Stephen Voss on +44-20-7073-3520 or sev@bloomberg.net.

http://www.businessweek.com/news/2010-02-09/iraq-government-allows-kurds-to-resume-oil-exports-immediately-.html

al_sting - Mittwoch, 24. Februar 2010 - 11:50
Bloomberg/Businessweek scheint eine der informativsten Quellen für DNO zu sein. Licht und Schatten liegen hier dicht beieinander:

http://www.businessweek.com/news/2010-02-23/dno-seeks-growth-outside-iraq-amid-oil-export-dispute-update1-.html

Bloomberg
DNO Seeks Growth Outside Iraq Amid Oil Export Dispute (Update1)
February 23, 2010, 07:53 AM EST
More From Businessweek

By Marianne Stigset

Feb. 23 (Bloomberg) -- DNO International ASA, the first foreign company to pump oil in Iraq since the 1970s, may invest outside the war-torn country as the regional Kurdish authority and Baghdad officials argue over export payments.

“It’s important for us to look for opportunities in other areas, to have a more diversified portfolio,” Chief Executive Officer Helge Eide said in an interview in Oslo. “We’re looking at eastern Africa, northern Africa and the Middle East onshore. That’s where we have been focusing our new venture activity, with Tunisia being the first opportunity.”

Oslo-based DNO has pumped oil in the semi-autonomous Kurdish region of northern Iraq since 2007 and in July was allowed to start exports through Turkey until a dispute halted shipments in September. DNO sells oil locally at a 60 percent discount to benchmark prices in London trading.

The company last week reported a larger-than-expected loss in the fourth quarter, ending a second year of losses, and restated sales after an estimated $133 million in Iraqi revenue failed to materialize. It has spent at least $350 million developing Iraqi assets after signing a production sharing agreement with the Kurdish Regional Government, or KRG, in 2004.

DNO rose as much as 0.4 krone, or 6.3 percent, to 6.76 kroner, the highest since Sept. 21. The shares traded at 6.55 kroner as of 1:25 p.m. in Oslo, valuing the company at 5.93 billion kroner ($1 billion).


Oman, Egypt

Difficulties in the Kurdish region coincide with efforts from the Baghdad government to develop the world’s third-largest oil reserves and raise capacity fivefold to 12 million barrels a day in the next six years. Companies such as Exxon Mobil Corp., BP Plc and Royal Dutch Shell Plc have signed contracts after two licensing rounds last year.

DNO entered the Middle East in 1998 in Yemen before moving into Iraq after the U.S-led invasion to topple Saddam Hussein. It last year signed a preliminary agreement for a 50 percent interest in an exploration permit in Tunisia with Audax Resources Ltd. The company is also looking at Oman and Egypt, Eide said.

Production was 7,600 barrels a day of oil in Yemen in the fourth quarter, and about 5,900 barrels a day for the local market in Iraq. Before exports were suspended, it produced 31,000 barrels a day for exports from Iraq in the third quarter.


Accelerate Projects

The company plans to invest a total of 360 million kroner ($61 million) this year, which doesn’t include expected payments for Iraq exports. Should exports resume and the payment issue be solved, it will consider making acquisitions outside Iraq, Eide said. We’d “accelerate some of our planned projects and be more active with regards to new ventures in terms of finding new assets in other countries, to be more diversified,” he said.

DNO has “had a bumpy ride” in Iraq, Eide said. It waited two years to get an export permit after starting output. Its operations were temporarily shut by the KRG three months later after the Oslo Stock Exchange forced the disclosure of the authority’s role in arranging a sale of treasury shares in 2008 when DNO needed money. DNO is also fending off a $144 million compensation claim from undisclosed parties that held stakes in its assets at the London Court of International Arbitration.


Little Cash

“If the court rules in favor of the claimants it leaves DNO with very, very, very little cash,” said Trond Omdal, an analyst at Arctic Securities in Oslo, who has a “buy” rating.

DNO and companies such as Addax Petroleum Corp. signed agreements with the Kurdish authorities, which are disputed by the Baghdad government. Revenue was passed to the State Oil Marketing Organization and deposited at the central treasury.

The KRG proposed in January that it allocate part of the sales or that Baghdad compensate the companies directly. Iraq Oil Minister Hussain al-Shahristani said on Feb. 9 that a Kurdish proposal was accepted, without providing details. KRG Prime Minister Barham Saleh said Feb. 15 that exports would start “very soon.”

DNO hasn’t received notification on exports or what payment system will be introduced, Eide said. The company operates three licenses in the area, including the producing Tawke field.

“We hope to retain the terms of the revised contracts signed in 2008,” he said. “We will in the first stage receive 60 percent of revenues from Tawke until we’ve reached a certain level of cost recovery and then we go into standard” terms for both local sales and exports, he said.


Few Bets

Getting payments is crucial for DNO’s expansion to improve its finances. At the end of 2009 it had about 300 million kroner in cash and 478 million kroner in financial assets for sale, including a 12 percent stake in Det Norske Oljeselskap ASA. Eide said they “are continuously monitoring” the bond market where they last raised money in 2007.

“It seems relatively sensible of them to make a few bets in areas that are geologically similar to Yemen, like Tunisia, given that they have the financial capacity to do so,” said Omdal. “There’s a limit to how much further they can go in Iraq, unless they consolidate with some of the other actors.”

The company has also become a target along with other explorers operating in the Kurdish area. China Petrochemical Corp., China’s second-largest oil company, agreed to buy Addax for $7.9 billion in August. A combination between Heritage Oil Ltd. and Genel Energy International Ltd. fell through because of the payment dispute.

Interest in the region has waned since the initial surge in June at the start of crude exports, Eide said.

RAK Petroleum, a closely held oil explorer from the United Arab Emirates, raised its stake in DNO to 10 percent in December. DNO last year rebuffed a RAK offer for its treasury shares. RAK, which is also expanding in Oman, has operations and areas of focus that overlap with DNO, Finance Director Pierre Henri Boutry said in an interview last week.

“We’ve only considered them a shareholder, at least until now,” Eide said. “But we are prepared to work with any companies, even if they are shareholders, if they have interesting assets.”

--With assistance by Anthony DiPaola in Dubai, Editors: Jonas Bergman, Mike Anderson

To contact the reporter on this story: Marianne Stigset in Oslo at +47-22-99-61-09 or mstigset@bloomberg.net

al_sting - Donnerstag, 25. März 2010 - 12:17
Ein Artikel aus der Zukunft (01.04.2010) :-)
Lang, aber lesenswert: http://www.fastcompany.com/magazine/144/combustible.html?page=0%2C0

al_sting - Mittwoch, 28. April 2010 - 07:49
Verkauf 1/2 Position (nach aktuellem Wert):
4.200 Stück, Börse Frankfurt, Preislimit 1,00€, Zeitlimit unbegrenzt bis auf Widerruf.

Grund: Wie Chinaman schon am 19.01. anmerkte, bin ich mit DNO recht stark in einem einzelnen Ölexplorer engagiert, der zudem stark von den politischen Rahmenbedingungen abhängig ist. Durch die Kursentwicklung hat dieses Argument seither weiter an Gewicht gewonnen.
In den vergangenen Monaten ist die Aktie gerade am Band aufwärts gestiegen wie nur selten zuvor, früher waren erratische Sprünge eher die Regel als die Ausnahme. Zudem scheint bei dem Kurs von gut 8 NOK = 1 € die Käuferseite auszudünnen, der Kurs stagniert.
Angesichts der unruhigeren Zeiten erscheint mir jetzt eine Gewinnmitnahme und damit eine Reduktion der DNO-Gewichtung angeraten.
Da dieser Verkauf bilanziell reinen Gewinn darstellt und DNO danach wertmäßig immer noch mit etwa "1 Position" gewichtet ist, wird dieser Ertrag nicht notwendiger Weise in der Säule "Öl/Energie" reinvestiert, sondern ist frei verfügbar.

Ciao, Al Sting

al_sting - Donnerstag, 29. April 2010 - 18:10
Letzter Handel Frankfurt:
Zeit: 16:41:59
Kurs 1,01 EUR
Anzahl: 5.000

Mein Verkauf: 4.200 * 1,01 = 4.242 €

Der Bestand an DNO-Aktien sinkt damit auf 9.000 Stück und wird immer noch als eine Position angesehen.

al_sting - Freitag, 30. April 2010 - 17:50
Bei DNO war heute einiges los:
Geschäftsbericht 2009 (Verluste, aber interessante Perspektiven), aber insbesondere die Nachricht, dass RAK Petroleum gestern seine Anteile auf 30% aufgestockt hat. Da deutet sich eine Übernahme an, als Gerücht geht das schon seit einiger Zeit herum.
Der Aktienkurs ist daraufhin auf über 9 NOK bzw. in D auf 1,16€ gestiegen.

Das hätten sie auch alles vor drei Tagen sagen können. :-)

Ciao, Al Sting

al_sting - Dienstag, 11. Mai 2010 - 18:24
Zumindest vom Nordirak und damit indirekt von DNO gibt es erfreuliche Nachrichten: http://www.reuters.com/article/idUSLDE64A0VB20100511
Oil exports from Iraqi Kurdistan may start soon-official
DOHA, May 11 (Reuters) - A deal between Iraq's central government in Baghdad and its semiautonomous northern Kurdish region to restart oil exports could come within days, Iraq's deputy oil minister said on Tuesday.

"It could be within days from now," deputy oil minister Abdul Kareem Luaibi said on the sidelines of an energy event in Qatar's capital. "We hope to start exports soon."

Luaibi also said Iraq aims to export 2.3 million barrels per day of crude in 2011.

--------------------------------------------
Wenn das wie angekündigt umgesetzt wird und dieses Mal auch Geld fließt, müsste DNO der größte Gewinner sein. Mal schauen, was "within days from now" in der Praxis bedeutet.

Zudem gab es heute Quartalszahlen, die auch nicht schlecht aussehen:
Oslo, 11 May 2010: DNO International ASA (OSE: DNO) today announces its results for the first quarter 2010.

The total operating revenues in the first quarter increased to NOK 259 million, up from NOK 184 million in the same period last year. Increased local deliveries in Kurdistan and higher oil prices contributed to the increase in operating revenues.

With the higher revenues, and a 30% reduction in the cost of goods sold, the operating profit (EBIT) in the first quarter amounted to NOK 95 million compared to a loss of NOK 77 million in the first quarter of 2009.

The cash flow in the period, represented by netback, amounted to NOK 139 million, which represents an increase from NOK -6 million last year. The cash position increased to NOK 671 million in the quarter. At current oil price levels DNO expects that its cash position and cash flow from producing assets will be sufficient to cover the planned investments for this year. DNO is also considering additional investments, which will be contingent on drilling results and available funding.

The net profit was NOK 15 million in the first quarter (NOK 138 million).

"We are pleased with the results in the first quarter. Backed by higher oil production and favourable oil prices compared to last year, the financial results have improved significantly this quarter. The drilling results from Yemen are encouraging, with the Yaleen-3 well now successfully tested and we now intend to accelerate the development of this area.", said Helge Eide, Managing Director.

al_sting - Dienstag, 13. Juli 2010 - 19:00
Übernahmegerüchte um DNO. Im Gespräch sind 11 norwegische Kronen, das entspricht derzeit etwa 1,38€. Diesem Zeitungsbericht zufolge gibt es allerdings auch Anzeichen für weitere Bieter und damit einen höheren Preis.

Um ehrlich zu sein erwarte ich für DNO spätestens nach der erfolgreichen Bildung der neuen Regierung im Irak eigentlich noch einen deutlich höheren Preis.

Aber das hier ist ja vielleicht erst der Anfang.
Und ein schöner Ausgleich für den Abfall der Falkland-Aktien.

-----------------------------------------------
Talk from the City: RAK Petroleum moves on Iraqi oil explorer DNO International
Gulf-based RAK Petroleum has made a takeover approach for DNO International, which drills for oil in the Kurdistan region of Northern Iraq.

By Ben Harrington
Published: 11:32AM BST 13 Jul 2010

According to well-placed market sources, the talk is that RAK recently submitted an offer of 11 Norwegian krona a share for DNO International.

RAK, which is controlled by some wealthy businessmen from the United Arab Emirates (UAE), already owns around 30pc of DNO International.

DNO International, whose shares have risen strongly during the last seven days, is up 0.5pc at 8.4 Norwegian krona in morning trade.

RAK, though, may have significant competition as pressure for consolidation in the oil and gas sector increases.

The chatter doing the rounds is that there is a potential counter bidder from US running its slide over DNO. Goldman Sachs is said to be advising the mystery suitor while Enskilda bank is working for DNO International.

There is also a theory that the Korean National Oil Company, which recently made an approach for London-listed Dana Petroleum, could be interested in DNO International as it has operations in areas such as Kurdistan and Yemen.

http://www.telegraph.co.uk/finance/markets/marketreport/7887324/Talk-from-the-City-UAE-backed-RAK-moves-on-Iraqi-oil-explorer-DNO-International.html

al_sting - Dienstag, 24. August 2010 - 10:06
Die weitere Entwicklung im Irak schein ein Geduldsspiel zu bleiben, aber DNO erzielt im Nordirak genug Einkünfte, um dieses Geduldsspiel durchzuhalten.
--------------------------------------------

Kurdish sales ease DNO's pain as it waits to export
Wed Aug 18, 2010 10:44am GMT

* Q2 operating profit 99 mln crowns vs 82 mln forecast

* Higher sales in Kurdistan ease the wait for export ruling

* Strong cashflow ahead of possible arbitration award

* Shares down 0.2 pct

By Walter Gibbs

OSLO, Aug 18 (Reuters) - Norway-based oil company DNO International ASA (DNO.OL: Quote) is selling enough oil inside Iraqi Kurdistan to stay afloat even without the central government's permission to export, the company said on Wednesday.

A power struggle between the central government in Baghdad and Kurdish authorities in Erbil has kept DNO from exporting oil as planned, but CEO Helge Eide said his company is making a profit in Kurdistan anyway -- more so than analysts had forecast for the second quarter.

DNO reported an operating profit of 99 million Norwegian crowns ($16 million) for the April-June quarter, against 2 million in the same period a year ago. Analysts polled by Reuters had on average forecast 82 million.

Eide attributed the better-than-expected performance primarily to an increase in local sales from DNO's Tawke field in the Kurdish region of Iraq.

DNO's working-interest production at Tawke rose to 17,145 barrels per day in June from 4,404 in May.

In an interview, Eide said the local sales increase had continued into the third quarter, with Tawke producing about 20,500 barrels per day in July. That was thanks to capacity growth at DNO's own refinery at Tawke and a rise in short-term contracts to other Kurdish refiners.

He said DNO's resulting strong cash position relieved some of the cost pressure of waiting for the central and regional governments to allow a resumption in exports, halted last September, after a period of sending more than 40,000 barrels per day to market through Turkey.

AS NORMAL AS POSSIBLE

Eide said the company could not wait for a political resolution. "We have to do business as normally as possible," he said, noting "low, stable lifting costs" had enabled DNO to operate Tawke profitably while the Iraqi debate rages over export payments and powers to award contracts.

Analysts said a resolution clarifying DNO's role in Kurdistan might not come until a new government emerges following Iraq's parliamentary election in March.

Trond Omdal, an analyst at Arctic Securities in Oslo, changed his projection for a resumption of DNO exports from the third quarter of 2010 to the fourth quarter.

But Omdal said the robust increase in local sales means DNO can comfortably wait out the political process.

"This changes the case quite dramatically if those sales can be sustained," he said. "They would like to export sooner rather than later, but you could almost defend the current share price on the basis of continuing local sales alone."

Eide cautioned that short-term sales contracts in Kurdistan could fluctuate. He said the August figures in particular could decline as a result of the Ramadan holiday.

Omdal said DNO's reported cash holdings of 821.6 million Norwegian crowns ($133.5 million) also put it in good stead to handle a pending arbitration award involving third-party interests in its Kurdish operations.

At 0943 GMT DNO shares were down 0.2 percent at 8.15 crowns. (Editing by David Holmes) ($1 = 6.152 Norwegian crowns)
http://af.reuters.com/article/energyOilNews/idAFLDE67G0YJ20100818?pageNumber=3&virtualBrandChannel=0&sp=true

al_sting - Mittwoch, 6. Oktober 2010 - 12:12
Merkwürdig: DNO bekommt eine Strafe von 55 bis 75 Mio US-$ aufgebrummt und die Aktie macht Freudensprünge auf ein Zweijahreshoch.
Ich muss gestehen, dass diese Strafzahlungen für mich unerwartet kommen.

http://af.reuters.com/article/energyOilNews/idAFLDE6950CA20101006

UPDATE 1-DNO says hit by $55-75 mln arbitration damages
Wed Oct 6, 2010 7:00am GMT

* Says estimated damages are still preliminary

* Sees $45-65 million extra losses in Q3 (Adds detail)

OSLO Oct 6 (Reuters) - Norwegian oil company DNO International ASA (DNO.OL: Quote) said it would incur damages of $55-$75 million as a result of an arbitration case, raising its third-quarter loss by $45-$65 million.

The damages, which result from an arbitration case related "to third party interests" in the Kurdistan region of Iraq, may be higher as they were based on its own preliminary estimates, DNO said on Wednesday.

"Assuming a final award in line with our preliminary calculations, we are able to fully cover the estimated range of damages from our cash reserves," managing director and president Helge Eide said.

The damages should not have any effect on the company's investment plan which includes the drilling of at least five exploration wells and completion of a new development in Yemen, Eide said. DNO, set to announce third-quarter results on Nov. 11, reported a second-quarter operating profit of 99 million Norwegian crowns ($17 million). [ID:nLDE67G0YJ] (Reporting by Oslo Newsroom; Editing by Dan Lalor)

al_sting - Montag, 27. Dezember 2010 - 16:17
Hier könnte es neue Bewegung geben:
http://www.thenational.ae/events/categories/gastro/iraq-gives-go-ahead-to-kurdish-oil-contracts?pageCount=0

Iraq gives go-ahead to Kurdish oil contracts

Tamsin Carlisle and Hadeel al Sayegh

Last Updated: Dec 26, 2010

Iraq's new central government plans to recognise contracts for oil and gas production in Iraqi Kurdistan, a step towards healing an extended rift that has delayed development of some of the world's largest oilfields.

Several UAE companies stand to benefit if the dispute is resolved.

Abdul Luaiby, two days into his new job as the Iraqi oil minister, said yesterday that there was an agreement between Baghdad and the regional government of Kurdistan.

"We have already signed an agreement with Kurdistan," Mr Luaiby said in Cairo yesterday on the sidelines of a Christmas Day meeting of the Organisation of Arab Petroleum Exporting Countries.

Under the deal, Baghdad would recognise several dozen contracts that the Kurds have unilaterally signed with more than a score of foreign oil and gas producers in their semi-autonomous territory in north-eastern Iraq.

The deal would also contain a revenue-sharing provision allowing foreign companies to be paid for oil and gas they pump for export.

"Yes, we will recognise them," Mr Luaiby said of the Kurdish contracts, which his predecessor, Dr Hussain al Shahristani, had declared illegal.

His statements followed five days of intensive talks last week when Nouri al Maliki, the Iraqi prime minister, led a delegation from Baghdad to meet Kurdish politicians on their home turf to hammer out a deal for an Iraqi coalition government.

The country has been without a government since its national election in March, and winning the support of the Kurds has proved the essential last step for Mr al Maliki to form a cabinet.

"The mood is much more positive now," said Hussein Baker, a Kurd from Erbil, the regional capital.

"The Kurds are very excited with the recent developments. The expectation is that foreign companies will now be able to export their oil and gas and the economy will boom."

The promise of an end to the increasingly acrimonious dispute, which had dragged on for nearly four years, should be good news not only for the Kurds and their foreign partners, but also for Iraq as a whole. One of the major casualties of the disagreement was a draft Iraqi federal oil law, badly needed to lend legal weight to the fistful of long-term service contracts that Dr al Shahristani signed with international oil groups over the past 18 months to develop large Iraqi oilfields outside Kurdistan.

Some of those fields, including a cluster of supergiants in the country's southeastern province of Basra, are among the largest in the world. But as long as the federal oil law remained stalled in parliament over the Kurdish dispute, the international oil companies that had signed the 20-year agreements to pump crude from the southern fields could not be sure that their contracts would not be overturned.

In Kurdistan, meanwhile, exports into Turkey of about 90,000 barrels per day (bpd) of crude by pipeline and tanker trucks were halted more than a year ago because Dr al Shahristani and Ashti Hawrami, the Kurdish resources minister, could not agree on a mechanism for paying the foreign oil producers.

The companies directly affected were Norway's DNO International, Turkey's Genel Enerji, and the Chinese state-owned Sinopec.

DNO, which is 30 per cent owned by the UAE's RAK Petroleum, cut back its output from the Tawke field in Kurdistan to 4,000 bpd last month because it lacked an export licence. Between June and September last year, it exported as much as 50,000 bpd from Tawke through a link to Iraq's northbound export pipeline.

Last year Genel Energy and Sinopec pumped about 40,000 bpd of crude from Kurdistan's Taq Taq oilfield for export, moving the oil by lorry. In October, Genel agreed to sell part of its stakes in Taq Taq and two other Kurdish fields to South Korea's UI Energy. The Turkish company has meanwhile pursued a project to build a refinery in Kurdistan for Taq Taq oil.

DNO and Genel have estimated that oil exports from the two fields could restart at a combined 150,000 bpd. Kurdish officials see this rising to 250,000 bpd within a year, equivalent to 10 per cent of Iraq's total current oil output.

Waiting in the wings is Pearl Petroleum, a consortium led by the Sharjah partners Crescent Petroleum and Dana Gas, with smaller stakes held by the Austrian petroleum group OMV and Hungary's MOL.

Pearl has developed gas and condensate production from the Khor Mor gasfield. It supplies the gas free of charge to local power plants and sells the condensate, a type of light oil, on the Kurdish domestic market. The group also has rights to develop a second gasfield, Chemchemal, and hopes to export some of its future output to Europe.

While Dr al Shahristani, who became Mr Hawrami's nemesis, is to remain in Mr al Maliki's cabinet in the newly created position of deputy prime minister for energy, there are signs that Mr Luaiby will be allowed to take the lead in further discussions with the Kurds.

Mr al Luaiby is seen as an "interlocutor" in northern Iraq, said Samuel Ciszuk, the senior Middle East energy analyst with IHS Global Insight.

"Allowing the new oil minister to handle much of the relationship … might allow for some of the conflicts to be defused, as the personal issues between [Dr al Shahristani and Mr Hawrami] would be removed," he said.

al_sting - Donnerstag, 3. Februar 2011 - 15:25
Laut Reuters starten heute wieder erste Exporte per Pipeline. Das dürfte der Grund für das neue Zweijahreshoch von DNO sein.

http://www.reuters.com/article/2011/02/03/iraq-oil-kurds-idUKLDE7120K020110203

Auch interessant: DNO finds more Kurdish oil, production rises http://af.reuters.com/article/energyOilNews/idAFLDE70R0DJ20110128

al_sting - Mittwoch, 16. Februar 2011 - 13:13
Das Jahresergebnis ist grundsätzlich gut.
Trotz allem muss man aber bedenken, dass der Aktienkurs steht und fällt mit der Option, das nordirakische Öl zu den bestehenden Verträgen per Pipeline zu exportieren. Die nordirakischen Kurden (mit denen die Verträge abgeschlossen wurden) stehen dafür ein, die Zentralregierung will die Verträge "revidieren", so dass DNO deutlich geringere Einnahmen verbleiben würden.
------------------------------------------------

DNO delivered good results from operations in 2010. Combined with successful financial measures, the Company has a solid position for further growth.

"2010 was a positive year for DNO, with good increase in production and improved financial results. Our organization is fully focused on a continuous positive development of the Company. The recent progress in Iraq and our ongoing exploration activities provide a good basis for further improvement in 2011", says Managing Director Helge Eide.

Sales increased from NOK 869 million in 2009 to NOK 1.25 billion in 2010. EBITDA before special items increased from NOK 261.6 million in 2009 to NOK 804.2 million in 2010. Solid cash flow from operations of NOK 525 million combined with sale of treasury shares and new equity increased DNO´s cash position by NOK 1.1 billion in 2010. DNO´s cash position was NOK 1.38 billion by year end 2010.

al_sting - Montag, 28. März 2011 - 23:53
Norwegian police charge DNO over shares sale to KRG (updated version)


THE HAGUE (Alsabah aljadeed) - Norwegian police on Wednesday have charged DNO International of breaking the stockmarket laws, following an investigation into a shares deal carried out by the company in 2008 with the help of Kurdistan’s Oil Minister Ashti Hawrami.

10 March 2011

DNO was the first foreign company to drill for oil in Kurdistan. In October 2008 DNO sold 44 million of its own shares for 31.2 million dollar, to help pay for its operations in the Kurdish Region. These were bought by the Kurdish government and later resold to Turkey's Genel Enerji, which has interests in DNO's Tawke and Duhok production sharing contracts in the region.

DNO was later fined by the Oslo Stock Exchange for not providing enough information about the share sale. In October 2009 Norwegian police launched a formal investigation into the transaction. Last Wednesday, police informed DNO that they believed the company and its representatives, managing director Helge Eide and chairman Berge Gerdt Larsen, had breached the disclosure obligations in 2008 towards the Oslo Stock Exchange and in relation to the stockmarket law that prohibits market manipulation.

In a statement last Thursday DNO said it disagreed with the police charges against the company and its representatives. "DNO will defend itself and its representatives rigorously against such unfounded charges," it said. At the time of the transaction the Oslo Stock Exchange requested information from DNO about the identity of the parties in the transaction but the company failed to provide information about the Kurdish government’s involvement in the deal.

The Oslo bourse later found out through another source that the KRG’s Oil minister Ashti Hawrami had acted as the middle man for the deal. DNO said that at the time it did not know Genel Enerji was the end buyer. While the Oslo Stock Exchange Appeals Committee accepted that DNO did not know the identity of the end buyer until April 2009, the company was still fined for not revealing Hawrami’s involvement in the deal when the request was first made by the Oslo bourse. DNO has appealed the fine to the Oslo city court.

In 2010 DNO chairman Berge Gerdt Larsen has become involved in a series of court cases in Norway and the United States, that followed the bankruptcy of several of his many companies: PetroProd, Petromena and Petro Jack. In Norway he has been charged with gross breach of trust, gross misappropriation of funds and the sale of shares at below market price. He has also been indicted for violation of Norwegian tax law and aggravated tax fraud in connection with transactions of these companies and his work for DNO. Shareholders of Petromena told the Norwegian press last year that they have began an investigation into the bankruptcy of Petromena, with the help of lawyers in the U.S., Singapore, Scotland, Cyprus and other countries.
The chief executive of Turkish energy giant Genel Eenrji on 16 February last year was fined £1m for insider dealing in the biggest penalty ever imposed by the British Financial Services Authority. The regulator said Mehmet Sepil, chief executive and 44pc owner of Genel, must pay £967,005 for buying shares in Heritage Energy, knowing that it had made a large oil discovery before the market had been informed.Murat Ozgul, Genel's chief commercial officer, and Levent Akca, its exploration manager, were also fined £105,240 and £94,062 respectively for similar offences involving smaller amounts.

Mr Sepil had agreed a $6bn (£3.8bn) merger with Heritage when he was told about the oil discovery in Iraq's Kurdistan region. The executive, who would have taken the top job at the new FTSE 100 company, then bought shares in Heritage. The next day, Heritage announced that it had found 2.3bn barrels of oil, lifting its shares by 25pc. Mr Sepil then sold his stake, making £267,000 in profit. In a surprising twist, it emerged that the executives had no idea that they had committed market abuse – a claim that was accepted by the FSA when it imposed the fine.

Also on Thursday shareholders of DNO met and elected Bijan Mossavar-Rahmani as a new Board member, in replacement of Dr. Zalmay Khalilzad, the former US ambassador to Iraq, who was elected on DNO’s board last year but then decided not to take up the position as board member. Both Rahmani and Khalilzad belong to RAK Petroleum, a company that holds shares in DNO. RAK was formed in Ras Al Khaimah and funded by public entities and individuals in the United Arab Emirates and Saudi Arabia. (Anna Zayer)

Sources: websites of Reuters, Upstreamonline, Dagens Naeringsliv, DNO, Harvard University, Daily Telegraph
http://www.newsabah.com/ar/1953/26/50890/dno-larsen.htm?tpl=52

al_sting - Montag, 28. März 2011 - 23:54
DNO operations in Yemen unaffected
[25/March/2011]

STOCKHOLM, March 25 (Saba)- Norwegian oil producer DNO International ASA (DNO.OS) has said that its production in Yemen is unaffected in the light of the demonstrations in the country, noting its operations are still running at full speed.

In a press release, DNO's communication director Tom Bratlie said that 95 percent of DNO's nearly 300 employees in Yemen are locals.

"So our operations are unaffected by this," said Bratlie.

DNO entered Yemen in 1998 and is involved in both production and exploration.

In the fourth quarter of 2010, Yemen accounted for 38 percent of DNO's total production.

YA
Saba
http://www.sabanews.net/en/news238357.htm

al_sting - Mittwoch, 30. März 2011 - 10:04
DNO International ASA is currently preparing its Annual Statement of Reserves
(ASR) as per 31.12.2010. The reserve estimates corresponds to commercial
reserves, class 1-3. The preliminary figures, as presented in this notice, show
a substantial increase in reserves.

At the Tawke field in the Kurdistan Region of Iraq, oil in place (STOOIP) is
estimated at 1,439 million barrels. The recovery factor is increased from 16.6%
to 21.3% primarily based on updated geological and reservoir technical
evaluations which have resulted in improved reservoir properties.

The gross ultimate P50 reserves for Tawke are now estimated at 306 million
barrels, up from 230 million per 31.12.2009. Remaining P50 reserves to DNO on
working interest basis are accordingly estimated at 183.4 million barrels, up
from 139.5 million the previous year. The figures are based on revised estimates
undertaken by recognized independent reservoir experts.

In Yemen the block 47 partners have committed to a field development and the
volumes in the Yaleen field have therefore been moved from contingent resources
to reserves. In addition, higher forecasted oil price contributes to extended
field life, and accordingly higher reserves. As per 31.12.2010 the remaining P50
reserves in Yemen are estimated to 10.8 million barrels, up from 9.9 million
barrels the previous year.

Based on the above estimates, total remaining P50 reserves to DNO on working
interest basis are 194.2 million barrels. This represents a 30% increase from
the 149.4 million reported for the previous year.

The full ASR report with the final figures will be published by the end of April
in accordance with Oslo Stock Exchange Circular 9/2009.

Oslo, 30 March 2011

DNO International ASA
Corporate Communications

al_sting - Dienstag, 12. Juli 2011 - 22:29
Kauf 5.000 Stück, nächster Kurs Frankfurt, Limit 0,85€.
Grund: Ich möchte mir zu den aktuellen Kursen meine früher verkauften Aktien (leicht aufgerundet) zurückholen, da ich DNO weiterhin große Stücke zutraue.

al_sting - Dienstag, 12. Juli 2011 - 22:30
Nachtrag: Ich denke, dass die untenstehende NAchricht den Abwärtskurs von DNO stoppt:


DNO International ASA reports a more than doubling of reserves for the Tawke oil field in the Kurdistan region of Iraq following a review and assessment by a firm of independent reservoir engineers. The just completed audit of reserves by France´s Beicip Franlab places Tawke´s ultimate P50 recoverable reserves at 636 million barrels versus a yearend 2010 audited figure of 306 million barrels.

"After this third party review by our external auditors, the Tawke oil field is confirmed to be a world class, giant oil field. The new reserves numbers far exceed our expectations of even a few months ago and certainly were not envisaged when we made the discovery in 2006. But the field´s recent performance has proven its exceptional reservoir quality, " said Managing Director Helge Eide.

See full press release attached.

Oslo, 12 July 2011

DNO International ASA Corporate Communications

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


Updated Estimates of Reserves and Resources - Press release: http://hugin.info/36/R/1530223/465499.pdf

al_sting - Mittwoch, 13. Juli 2011 - 23:40
Eröffnungskurs in Frankfurt 0,78 €.

0,78€ * 5.000 = 3.900,00€.

Der durchschnittliche Einkaufskurs beträgt jetzt 0,71€

Diskussionsforum der stw-boerse: Auslandswerte: DNO International, WKN: 865623: Archivierte Beiträge bis 13. Juli 2011