DNO Updates Baeshiqa Testing

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DNO 15.11.2019 kl 08:08 1130

Oslo, 15 November 2019 - DNO ASA, the Norwegian oil and gas operator, today
announced issuance of a notice of discovery to the Kurdistan Regional Government
of Iraq on the Baeshiqa-2 exploration well, in accordance with the requirements
of the Production Sharing Contract, after flowing hydrocarbons to surface from
the upper part of Triassic Kurra Chine B reservoir.

Following acid stimulation, the zone flowed variable rates of light oil and sour
gas. Further testing of this and other Jurassic and Triassic zones is ongoing
and will determine the next steps towards appraisal and assessment of
commerciality.

The Baeshiqa-2 well was spud in February 2019 and drilled to a total depth of
3,204 meters (2,549 meters TVDSS).

DNO acquired a 32 percent interest and operatorship of the Baeshiqa license in
2017. Partners include ExxonMobil with 32 percent, Turkish Energy Company with
16 percent and the Kurdistan Regional Government with 20 percent.
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