STOCKS NEWS EUROPE-DNO gains on hopes of Iraq oil exports
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11:24GMT 15May2008-DNO gains on hopes of Iraq oil exports
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Shares in Norwegian energy group DNO International (DNO.OL: Quote, Profile, Research) jump 4.3 percent to 10.51 crowns on renewed hopes that it would receive in 2008 a permit to export the oil it produces in Iraq -- which one analyst says would double DNO's value.
Pareto Securities says in a research note that DNO's share price could rise to 25 crowns when the group starts exporting oil from Iraq and if the size of its new Hawler discovery in Kurdistan is confirmed.
When issuing weaker-than-expected first quarter results on Wednesday DNO repeated that its partner, the Kurdistan Regional Government, sought to get an export licence for DNO this year. Continued...
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