Heisenberg Discovery Delineated by Appraisal Well, Sidetrack

The license partnership, which in addition to DNO Norge AS (49 percent) includes operator Equinor Energy AS, is planning a well in the second quarter of this year to explore an additional deep prospect, Angel, while delineating Heisenberg towards the west.

Surrounded by major North Sea hubs Troll B, Kvitebjørn and Gjøa (the first two operated by Equinor), Heisenberg lies within tieback range of these hosts. Studies are underway for fast-track development of Heisenberg in coordination with a string of recent discoveries in this area in which DNO has a significant presence, including in last year's Carmen discovery (30 percent).

“With recent exploration successes, our North Sea portfolio has tilted towards quality discoveries which we now need to rebalance by adding production,” said DNO's Executive Chairman Bijan Mossavar-Rahmani.

In 2023, the Company was the third most active exploration driller on the Norwegian Continental Shelf and ranked second in terms of discovered volumes with an estimated 100 MMboe net to DNO. The Company has prioritized near-infrastructure exploration in areas with clear routes to commercialization of discoveries and has been an early mover in acquiring substantial acreage positions in selected areas which have since become hotspots.

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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 the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d'Ivoire, Netherlands and Yemen.

This information is subject to the disclosure requirements pursuant to §5-12 of the Norwegian Securities Trading Act.