DNO raises exploration budget for 2006

By OGJ editors
HOUSTON, Jan. 23 -- DNO ASA reported a 650 million kroner ($100 million) pretax exploration budget estimate for 2006. The Oslo-based firm plans this year to participate in 22 exploration wells (15 as operator).

The company's 2006 budget represents a 30% increase from the 2005 budget. Exploration investments last year added proved and probable reserves of 44 million bbl to DNO.