DNO refuses to comment on rumours that Zita exploration well has come up dry |
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Published
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Thu, 01 Feb 2007 11:34
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OSLO (AFX) - DNO ASA said it is too early to draw any conclusions on the results of exploration well 6507/11-7 in Norway's Zita prospect, dismissing analyst speculation that the well had come up dry.In a statement brought on by Oslo Bors concerns that the market had varying access to information, DNO said the license operator, Norsk Hydro ASA, was continuing its exploration activities.'An exploration well undergoes various phases,' DNO said. 'Only when all exploration targets have been reached and subsequent logging/testing has been done will it be possible to provide information as to whether or not a discovery was made in the well.'DNO has a 30 pct stake in the prospect, which is located north of Asgard in the Norwegian Sea.DNO said it did not want to comment further on the matter, adding that information concerning the results of the exploration well would be provided by the Norwegian Petroleum Directorate once the exploration well has finished its activities.Norsk Hydro has already said it hopes to make information on the results of the exploration well public soon.alastair.reed@thomson.comar/gpCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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