moving up, page-2

With upside potential like this it is worth a punt IMO.

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Unrisked resource potential given oil discovery is estimated by DNO in the range of 54-280 million barrels full field, with a most likely estimate of 138 million barrels - which is 83 million barrels net to DNO.
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http://www.dno.no/Templates/PressRelease.aspx?id=1520
DNO ASA - Rig secured for Jaguar Prospect

10.11.2005
DNO UK Ltd., ("DNO") a 100 % subsidiary of DNO ASA, has entered into an agreement with Peak Well Management Ltd. for the use of the semi-submersible drilling unit Bredford Dolphin for a one well program on Block 211/22B on UKCS .

Block 211/22B hosts an upper Jurassic prospect named Jaguar and the spud date of the well is estimated at around mid January 2006.

DNO secured a 60% working interest and operatorship in Block 211/22B earlier this year through a farm-in agreement with Elixir Petroleum Ltd. (Elixir) by funding 92,5% of the costs of drilling one exploration well on the Jaguar Prospect. Elixir retained a final 40% working interest in the block.

Unrisked resource potential given oil discovery is estimated by DNO in the range of 54-280 million barrels full field, with a most likely estimate of 138 million barrels - which is 83 million barrels net to DNO.

DNO ASA

10 November 2005

Contact:

Helge Eide
Managing Director.