DNO ASA Announces Major Oil and Gas Discovery in North Sea

DNO ASA ( (GB:0MHP) ) has provided an update.

DNO ASA has announced a significant oil and gas discovery in the Northern North Sea license PL1182 S, with estimated recoverable resources ranging from 39 to 75 million barrels of oil equivalent. This discovery, named Kjøttkake, is strategically located near existing infrastructure, enhancing its commercial viability. The company is actively expanding its portfolio through acquisitions, including the recent purchase of Sval Energi Group AS, which will substantially increase its North Sea reserves and production capacity.

More about DNO ASA

DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North Sea, and West Africa. 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 regions such as the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d’Ivoire, Netherlands, and Yemen.

YTD Price Performance: 35.20%

Average Trading Volume: 169,562

Technical Sentiment Signal: Sell

Current Market Cap: NOK13.41B

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