DNO updates Tawke Field of Northern Iraq

Norway based oil company DNO has announced that Tawke # 8 has confirmed oil in the central/down flank position of the field. An extensive test and formation evaluation program is ongoing. Good reservoir properties have been confirmed, and so far the well has achieved a gross rate of more than 17,000 bopd aggregated from four tests. A maximum of 8,000 bopd was achieved from the most productive test interval.

Tawke #5A has been drilled to its final depth, confirming oil in the central area of the Lower Reservoir. Formation evaluation and testing is currently being conducted.

In addition, DNO has procured a third smaller carrier rig. Tawke #1 has been re-entered using this rig and will be re-tested including acid stimulation, to confirm the reservoir properties and production potential of the deeper reservoir horizons.

The company said in a statement that the Board of Directors of DNO ASA has received an unsolicited expression of interest from a reputable financial advisor on behalf a large international oil company for DNO’s license shares in Kurdistan.