DNO Farms Into Oman Onshore Block

DNO International has entered into a farm-in agreement with respect of Block 36 onshore Oman.

The Block 36 farm-in agreement provides for the transfer to DNO Oman AS of a 75 percent participating interest (100 percent paying interest) from Allied Petroleum Exploration Inc. The company will assume operatorship and fund reprocessing of existing and acquisition of new 2D seismic data and drilling of two exploration wells.

Block 36 is located in the Rub al Khali basin and covers a surface area of more than 18,000 km2. Two exploration wells previously drilled in the block have confirmed the presence of source rock in the basal Silurian hot shale, an organic-rich shale that has sourced the majority of the oil and gas fields discovered in the Arabian Peninsula and North Africa.