Gulf Oil and Gas accountACCOUNT

DNO has secured a new concession through a farm-in to Block 44 in Yemen.

Source: www.gulfoilandgas.com 7/12/2004, Location: Middle East

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DNO will become the operator holding 65.1 % participating interest in the license.
Block 44 is located next to and north of Block 32, which contains the Tasour Field. Through a farm-in agreement DNO will enter into a work program which includes acquiring 150 km. seismic and drilling of one exploration well.

Following the farm-in to Block 44, DNO's Yemen portfolio include the following concessions:
Block 32: 38.95% Participating Interest (Operator) - includes the Tasour producing field.
Block 43: 56.67% Participating Interest (Operator) - includes the Nabrajah oil discovery.
Block 44: 65.10% Participating Interest (Operator)
Block 72: * 34.00 % Participating Interest (Operator)
Block 53: 24.45% Participating Interest (Partner) - includes the Sharyoof producing field.

*Subject to final PSA terms and ratification by the Yemen authorities.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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