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Norske OLJESELSKAP - die norwegische Ölrakete (Seite 212)


DNO
ISIN: NO0003921009 | WKN: 865623 | Symbol: NK1A
1,770
16.10.18
Tradegate
+2,31 %
+0,040 EUR

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DNO positioned for acquisitions
During a period of time in April, the Norwegian oil company DNO purchased a 28.71 percent stake in Faroe Petroleum, the Faroese oil company, which is investing hard on the Norwegian continental shelf.

It has been speculated whether DNO will attempt a full blood acquisition, but it has been rejected by the company itself.

When the stock purchases started April 4, the company announced that it had no intention of making a bid for the entire company.

Such a statement means, according to the regulations, that the company can not cross the 30 percent ownership limit before it has been six months.

However, if DNO chooses to acquire an ownership stake of more than 30 per cent before the expiration of the said six-month period, it will trigger a bid obligation on the remaining shares in Faroe Petroleum.

In its first quarterly report, DNO wrote that the ownership share complements the company's existing portfolio of 19 exploration licenses on the Norwegian and British continental shelf.

Several actors, however, believe that an acquisition attempt is on the stairs.

More legs to stand on
Erlend Lødemel, Managing Director of Fondsfinans, who has invested in bonds issued by both DNO and Faroe Petroleum, believes that much will allow DNO to increase its position in Faroe.

He points out that DNO recently retrieved $ 200 million through issuance of a new bond loan, in addition to refinancing $ 400 million of the old one and having a significant cash flow.

"In late autumn, the company is likely to have sufficient liquidity to buy Faroe. Moreover, DNO has recently received a review to change covenants, so that DNO is not prevented from raising additional debts in subsidiaries, something Faroe could be, he says to Hegnar.no.

The fund finance manager therefore believes it does not seem unlikely that DNO plans to buy further in Faroe, which he considers to be positive.

"In that case, it will give the company more legs to stand on and give less exposure to the Kurdistan capital.

DNO owns shares in three licenses in Kurdistan, including 75 percent of the Tawke license, which in several media is described as the company's "crown jewel".

The license, which includes the Tawke and Peshkabir fields, has estimated reserves of more than 500 million barrels of oil equivalents.

Acquisitions and mergers
Monday's news that the oil companies Point Resources and Eni Norge merge into the company Vår Energi AS, has entered into a number of major transactions on the Norwegian continental shelf recently.

Lødemel does not look away from the fact that more is going to happen on that front.

"Mergers and acquisitions have been on the cards, as Okea's acquisition of Shell Shares and DNO's acquisition of Faroe shares has been banned," he said.

"We will not be surprised if we see more such transactions in the future.
RBC verbessert die ASA-Empfehlung des VNB von der Sektorperformance zur Outperformance, berichtet Reuters.

Das Kursziel wird von 15 auf 20 Kronen erhöht.

In letzter Zeit war DNO stark an der Börse. Der letzte Monat ist 14,6 Prozent, während die wöchentliche Rendite 13,0 Prozent beträgt.

Während des Tages war DNO bis zu 17,31 NOK, die höchste Rate seit Februar 2015.
WOW!!! - Endlich!!!!

Oslo, 16 August 2018 - DNO ASA, the Norwegian oil and gas operator, today announced plans for its first dividend distribution to shareholders in 13 years following release of strong half-year 2018 results, including revenues of USD 289 million which were up 83 percent from the same period last year. The Company also reported a net profit of USD 61 million and free cash flow of USD 142 million during the first half of the year.
WOW!!! - Endlich!!!!

Oslo, 16 August 2018 - DNO ASA, the Norwegian oil and gas operator, today announced plans for its first dividend distribution to shareholders in 13 years following release of strong half-year 2018 results, including revenues of USD 289 million which were up 83 percent from the same period last year. The Company also reported a net profit of USD 61 million and free cash flow of USD 142 million during the first half of the year.

The planned annual dividend distribution of NOK 434 million (USD 50 million equivalent), payable in two tranches, is subject to shareholder approval. To facilitate the distribution of the planned dividend, the DNO Board of Directors will convene an extraordinary general meeting on 13 September 2018 (i) to seek approval for payment of a dividend of NOK 0.2 per share in H2 2018 to be distributed to shareholders of record on 13 September 2018 (as registered in the VPS on 17 September 2018), and (ii) to seek authorization to approve an additional dividend payment of NOK 0.2 per share in H1 2019.
Hallo,
was bedeutet die nachstehende Meldung für DNO (außer dem Kursrutsch)?

https://www.wallstreet-online.de/nachricht/10821278-dno-with…
wie schätzt Ihr den weiteren Verlauf ein?

Gruß,
C.
Chevron Becomes First Oil Major To Exit Norway
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According to a letter from the Norwegian oil and energy ministry to Chevron dated Sept. 28. and obtained by Reuters, Chevron has agreed to transfer its 20% stake in an exploration license in the Arctic, called PL859, to Norway's DNO ASA.

The decision means that "Chevron Norway shuts down its activities in Norway and leaves the NCS permanently," the ministry wrote.

A spokeswoman for Chevron confirmed to Reuters that the company reached the deal with DNO in July but did not disclose its value.

"The transaction is subject to certain conditions and approvals, and is expected to take a number of months to close," she said.

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https://www.epmag.com/chevron-becomes-first-oil-major-exit-n…
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