DNO International ASA is currently preparing its Annual Statement of Reserves (ASR) as per 31.12.2010. The reserve estimates corresponds to commercial reserves, class 1-3. The preliminary figures, as presented in this notice, show a substantial increase in reserves.
At the Tawke field in the Kurdistan Region of Iraq, oil in place (STOOIP) is estimated at 1,439 million barrels. The recovery factor is increased from 16.6% to 21.3% primarily based on updated geological and reservoir technical evaluations which have resulted in improved reservoir properties.
The gross ultimate P50 reserves for Tawke are now estimated at 306 million barrels, up from 230 million per 31.12.2009. Remaining P50 reserves to DNO on working interest basis are accordingly estimated at 183.4 million barrels, up from 139.5 million the previous year. The figures are based on revised estimates undertaken by recognized independent reservoir experts.
