DNO optimistic about future in Iraq

OSLO, Norway, March 18 (UPI) -- Iraqi-focused energy company DNO said its full-year 2015 revenues were down sharply, though its reserve estimate from the region was up 20 percent.

DNO, which focuses on reserve basins in the Kurdish north of Iraq, reported full-year 2015 revenue at $187 million, down 59 percent from the previous year. Capital spending of $51 million was down more than 80 percent to $51 million and the company posted an operating loss of $174 million.

http://www.upi.com/Business_News/Energy-Industry/2016/03/18/DNO-optimistic-about-future-in-Iraq/5011458292576/?nll=1