
Q2 2022 Trading Update and Invitation to Earnings Call
Oslo, 18 July 2022 – DNO ASA, the Norwegian oil and gas operator, will publish its Q2 2022 operating and interim financial results on Thursday, 11 August 2022 at 07:00 (CET). A videoconference call with executive management will follow at 11:00 (CET). The Company issues below an update on production and sales volumes for the quarter as well as other key financial information that will be further discussed in the earnings call.
Volumes (boepd)
Gross operated production | Q2 2022 | Q1 2022 | Q2 2021 |
Kurdistan | 107,178 | 106,465 | 110,304 |
North Sea | – | – | – |
Net entitlement production | Q2 2022 | Q1 2022 | Q2 2021 |
Kurdistan | 26,682 | 26,670 | 27,661 |
North Sea | 11,579 | 12,700 | 9,939 |
Sales | Q2 2022 | Q1 2022 | Q2 2021 |
Kurdistan | 26,682 | 26,670 | 27,661 |
North Sea | 12,594 | 10,689 | 7,285 |
Selected cash flow items
During the quarter, DNO received USD 264.6 million net from the Kurdistan Regional Government, of which USD 183.8 million represents the entitlement share of January through March 2022 Tawke license crude oil deliveries. Of the balance, USD 30.5 million represents override payments equivalent to three percent of gross December 2021 through March 2022 Tawke license revenues and USD 50.3 million represents payments towards arrears built up from non-payment of certain invoices in 2019 and 2020.
DNO paid two tax instalments totaling USD 24.5 million in Norway as tax losses for 2021 ended lower than estimated tax losses that were the basis for tax refunds received during H2 2021.
Other
DNO participated in four exploration wells in the North Sea in the quarter. The Kveikje well in PL 293B on the Norwegian Continental Shelf (NCS) (29 percent working interest) was spudded 8 March and completed 8 April and has been announced as a discovery. The Overly well in PL 1085 on the NCS (25 percent working interest) was spudded 4 May and completed 25 May and resulted in a minor discovery. The Edinburgh well in P255 on the UK Continental Shelf (45 percent working interest) was spudded 15 March and had drilling activity throughout Q2 but has subsequently been announced as a dry well. The Brage South well in PL 055 (14.3 percent working interest) on the NCS was spudded 10 June and drilling was still ongoing as of end of Q2.
Earnings call login details
Please visit www.dno.no for login details ahead of the call.
Disclaimer
The information contained in this release is based on a preliminary assessment of the Company’s Q2 2022 operating and interim financial results and may be subject to change.
–
For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no
–
DNO ASA is a Norwegian oil and gas operator focused on the Middle East and the North Sea. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Netherlands and Yemen.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Sampo plc’s share buybacks 05/08/20228.8.2022 07:30:00 CEST | Press release
SAMPO PLC STOCK EXCHANGE RELEASE 08/08/2022 at 08:30 am Sampo plc’s share buybacks 05/08/2022 On 05/08/2022 Sampo plc (business code 0142213-3, LEI 743700UF3RL386WIDA22) has acquired its own A shares (ISIN code FI0009003305) as follows: Sampo plc’s share buybacksAggregated daily volume (in number of shares)Daily weighted average price of the purchased shares*Market (MIC Code)14,33944.37AQEU14,45644.38CEUX7,48944.42TQEX78,18844.36XHELTOTAL114,47244.37 *rounded to two decimals On 9 June 2022, Sampo announced a share buyback programme of up to a maximum of EUR 1 billion in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. The programme, which started on 10 June 2022, is based on the authorization granted by Sampo's Annual General Meeting on 18 May 2022. After the disclosed transactions, the company owns in total 5,603,062 Sampo A shares representing 1.05 per cent of the total number of shares in Sampo plc. Details of ea
CONDITIONS FOR RIKSBANK BID PROCEDURE KOMMUNINVEST BONDS5.8.2022 16:20:00 CEST | Press release
Bid procedure, 2022-08-09BondsKOMMUNINVEST I SVERIGE: 2602. SE0013745452. 2026-02-04 KOMMUNINVEST I SVERIGE: 2706, SE0016829048, 2027-06-15 BidsBids on interest and volume are entered via Bloomberg Bond Auction SystemBid date2022-08-09Bid times10.00-11.00Requested volume (corresponding nominal amount)2602: 200 mln SEK +/-100 mln SEK 2706: 200 mln SEK +/-100 mln SEK Highest permitted bid volume (corresponding nominal amount)2602: 200 mln SEK per bid 2706: 200 mln SEK per bid Lowest permitted bid volume (corresponding nominal amount)SEK 50 million per bidExpected allocation timeNot later than 11.15 (CET/CEST) on the Bid dateDelivery and payment date2022-08-11Delivery of bondsTo the Riksbank's account in Euroclear Sweden AB's securities settlement system 1 4948 6383General Terms and ConditionsGeneral Terms and Conditions General Terms and Conditions för the Riksbank’s Purchases of Bonds via Bid Procedure 2020:3. dated 20 November 2020 (see the Riksbank´s web). Stockholm, 2022-08-05 This i
CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK COVERED BONDS5.8.2022 16:20:00 CEST | Press release
Bid procedure, 2022-08-11BondsSWEDBANK HYPOTEK AB: 197. SE0016828529. 2027-03-17 SKANDINAVISKA ENSKILDA: 581, SE0013102043, 2026-12-16 DANSKE HYPOTEK AB: 2612, SE0015987540, 2026-12-16 NORDEA HYPOTEK AB: 5535, SE0013358413, 2025-09-17 Bid date2022-08-11Bid times09.00-10.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)197: 200 mln SEK +/-100 mln SEK 581: 200 mln SEK +/-100 mln SEK 2612: 100 mln SEK +/-50 mln SEK 5535: 150 mln SEK +/-100 mln SEK Highest permitted bid volume (corresponding nominal amount)197: 200 mln SEK per bid 581: 200 mln SEK per bid 2612: 100 mln SEK per bid 5535: 150 mln SEK per bid Lowest permitted bid volume (corresponding nominal amount)SEK 50 million per bidExpected allocation timeNot later than 10.15 (CET/CEST) on the Bid dateDelivery and payment date2022-08-15Delivery of bondsTo the Riksbank's account in Euroclear Sweden AB's securities settlement system 1 4948 6383 Stockholm, 2022-08-05 This is a translation of the special terms and
DIAC S.A. : Half-Year Financial Report 2022 is now available5.8.2022 14:35:17 CEST | Press release
August 5th, 2022 DIAC S.A. : Half-Year Financial Report 2022 The DIAC "Half-Year Financial Report 2022”is now available on the website www.mobilize-fs.com Attachment Communiqué de mise à disposition - DIAC S.A. - Half Year 2022 Financial Report is now available
RCI Banque: Half-Year Financial Report 2022 is now available5.8.2022 14:32:14 CEST | Press release
August 5th, 2022 RCI Banque: Half-year Financial Report 2022 The RCI Banque "Half-year Financial Report 2022" is now available on the RCI Banque website www.mobilize.com Attachment Communiqué de publication - RCI Banque - Half Year Financial Report 2022 is now available on the RCI Banque website