DNO Reports Weak Q1 Results, Hunts for New Assets

摘要

Oslo-listed DNO is bullish about its outlook and is hunting for new assets despite slashing spending plans and reporting a $74.2 million loss for the first quarter this year. The company said it is on the lookout for assets, as it has been buoyed by the success of an oversubscribed share sale in March, continuing oil production growth from its flagship Tawke asset in the Kurdistan region of Iraq and the expectation that it will soon start to see overdue revenues from exports.