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Tuesday, September 9, 2014
DNO has been granted a two-year extension to the term of its PSA in Somaliland on Block SL18. The first exploration period will now end in November 2017.
Block SL18, in which DNO has a 50% stake and is operator, is a frontier exploration block. The partners have completed field survey and environmental assessment studies over the block and will initiate a planned seismic acquisition program once the government of Somaliland has put in place a planned Oil Protection Unit (OPU) to support the international oil companies operating in the country. The OPU is expected to be operational in 2015.
In the interim, security conditions permitting, DNO will resume a development program focused on drilling water wells to provide local communities in the areas covered by Block SL18 with potable water.
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