Monday, June 12, 2006

This Is Seriously Bad News

"Oil discovery size sends DNO stock soaring
Share prices for stock in Norwegian oil company DNO jumped Monday after the company said its oil discovery in Iraq will amount to at least 100 million barrels.

DNO earlier had confirmed its discovery of oil in Kurdish areas of northern Iraq, but hadn't disclosed its size. On Sunday, company officials and officials in Iraq said DNO had found at least 100 million barrels. … … …

Source: Aftenposten English Web Desk"

Related stories from Aftenposten:
DNO confirms oil discovery - 05.05.2006
Rising oil prices boost stocks - 11.04.2006
DNO strikes oil in Iraq - 10.04.2006

In the current climate this is not good news … … …


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