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DNO - KRG/Hawrami købte DNO aktier...


18645 JCBN 18/9 2009 09:50
Oversigt

DNO - KRG/Hawrami købte DNO aktier..., 18-9 kl. 08:50:14 af JCBNhttp://www.dn.no/energi/article1744057.ece

Tjaeh... det er da lidt fyfy de ik har offentligtgjort sådan et salgt af aktier syntes jeg. Men et eller andet sted er det da et godt tegn at KRG køber en stor DNO aktiepost.

/Jesper

(aktiemarkering!)



18/9 2009 10:24 JCBN 018646



18/09-2009 09:10:00: (DNO) DNO International ASA - Press Release from the Oslo Stock Exchange Appeals Committee
("DNO" or "the Company")


Reference is made to a press release issued by the Oslo Stock
Exchange Appeals Committee ("OSEAC") on 17 September 2009, concerning
DNO's appeal against the a decision by the board of Oslo Stock
Exchange ("OSE") on 17 June 2009 to impose certain penalty payments
on DNO, due to an alleged breach of its obligations to release
information to OSE and to release information to the market.

The alleged breach of such obligations was according to OSE related
to DNO's sale of 43,873,960 treasure shares on 10 October, 2008. The
OSEAC has concluded that DNO had not breached its obligation to
release information to the market in relation to the sales of the
shares, but maintained the breach of obligation to release
information to OSE.

DNO note that the decision made by OSEAC supports the Company's
position that it has complied with its obligation to release
information to the market in relation to the share transaction.

Prior to the sale of the treasury shares, DNO searched potential
buyers both through direct and indirect contacts. The main rationale
behind of the sale of the shares was triggered by the turbulence in
the financial market at the time where traditional sources of
financing were not available. The Company's key focus was to sell the
shares at the best possible price and the sale was completed
substantially above the then current trading value

The sale of the shares was as required under applicable regulations
reported immediately to the market on 10 October, 2008. The shares
sold by DNO were held under a UK nominee account and the beneficiary
ownership of the shares was at the time not known to the Company.

In the beginning of April 2009 the Company received information about
the beneficiary owner of the shares sold by DNO on 10 October 2008
which was then reported to the market in a Stock Exchange Notice
released on 6 April 2009. In this Stock Exchange Notice it was
reported that Genel Enerji was the beneficial owner of the shares.

The OSEAC decision on 17 September 2009 concludes that DNO did not
hold in its position information considered as insider information
related to the sales of the shares until the Company received
information about beneficiary owner of the shares in the beginning of
April 2009. DNO have therefore fully complied with its obligation to
disclose information to the market in relation to the above mentioned
sales of shares, which has now also been supported by the OSEAC.

Despite this conclusion reached by the OSEAC, the OSE has decided to
publish the full minutes from the meeting on 17 June 2009.

DNO strongly rejects that OSE has the right to do so as such minutes
contains several allegations against DNO which DNO has rejected and
which has also not been supported by the OSEAC. This may lead to
speculative and misleading conclusions, and make available to the
market information deemed not to be required to be disclosed and
irrelevant for evaluating the Company's shares.


DNO International ASA
18 September 2009



18/9 2009 11:08 018647



Puhaa det stinker da af korruption, hvordan kan det går galt ?



18/9 2009 11:22 JCBN 018648



Mjo mja... :)
Syntes godt de kunne informere lidt bedre.
Men med til historien hører jo også de fik medhold igår...

"DNO har fått medhold i Børsklagenemnden på sin klage på dommen fra juni der selskapet ble dømt til å betale 942.228 kroner for brudd på opplysningsplikten, går det frem av en melding fra Oslo Børs.

Børsen skriver at vedtaket i saken av 17. juni oppheves. "



18/9 2009 12:32 JCBN 018652



http://www.upstreamonline.com/live/article188967.ece

An investigation into the sale of a chunk of shares in Norwegian explorer DNO International found that the Kurdistan Regional Government’s (KRG) Natural Resources Minister, Ashti Hawrami, acted as middle man for the deal with Turkey’s Genel Enerji.



In June this year the Oslo Bors fined DNO Nkr2.4 million ($368,000) for not providing enough information about the share sale made in October last year.

The stock exchange claimed the company knew at the time that the shares were sold to a single buyer linked to one of its projects, and therefore should have identified the buyer.


The company appealed the decision, which consisted of two separate charges; one for breach of conduct to inform the market under the Securities Trading Act, and one for breach of conduct to inform the stock exchange under the Stock Exchange Act.


Yesterday an appeals committee cleared the company of breach of conduct to inform the market of information around the sale but upheld charges of breach of conduct to inform the stock exchange.


The buyer, Genel Enerji, is a Turkish company owned by the Cukurova Group. DNO disclosed this in April, at the same time as Genel Enerji was awarded interests in DNO's Tawke and Duhok production sharing agreements in the Kurdistan region of Iran.


Further investigation has now also brought to light that Hawrami acted as a middle man for the transaction, reported Norwegian newspaper DN.


Documents obtained by the Oslo Bors show that the Hawrami purchased the 43.9 million shares, representing a 4.8% stake in the company, for Nkr175.5 million.


According to DN, Oslo Bors also has evidence of direct contact between Hawrami and DNO chief executive Helge Eide regarding the transaction.

Lidt mere information omkring handlen.



19/9 2009 17:41 JCBN 018698



http://www.krg.org/articles/detail.asp?anr=31558&lngnr=12

Statement by Dr Khaled Salih
Senior Adviser to the Prime Minister and the Minister of Natural Resources
Kurdistan Regional Government

The Kurdistan Regional Government (KRG) issues the following comments in response to the documents released by the Oslo Stock Exchange (OSE) yesterday, 18th September. The OSE’s documents referred to the treasury shares transaction of October 2008 by the Norwegian oil company DNO, which has an oil production sharing contract in the Kurdistan Region.

1. The KRG has facilitated the treasury shares transaction with the sole intention of helping DNO to raise the capital required for its projects in the Kurdistan Region. We wish to make it absolutely clear that neither the KRG nor any of its ministries, officials, employees or advisers has benefited directly or indirectly, through DNO or Genel Enerji, from the transaction or subsequent resale of the shares referred to by OSE.

2. The KRG had agreed a prepayment/cash advance loan to Genel Enerji, but it was more convenient for the KRG to arrange payments for the shares directly instead of first sending the money to Genel Enerji in another country.

3. Dr Ashti Hawrami, the KRG Natural Resources Minister, has always acted in his official capacity as minister, and not on a personal basis as it would appear to have been irresponsibly implied in some of the information released by OSE and some subsequent commentators.

4. Whilst we realise that it is not for us to comment on DNO’s reporting requirements to OSE, we find it astonishing that OSE released such perceived market sensitive information without any attempt to seek clarification from us.

5. It is well known that investors have always viewed positively news on actual or implied commercial relationships between the companies working in the Kurdistan Region and the KRG. The release of this information and the way it was released pushed up DNO’s share price on Friday, for no real commercial reason. We believe that the OSE should have been careful of this outcome, rather than unwittingly and through its internal battles with DNO contributing to this unworthy speculation.

6. In conclusion, the KRG has always been and shall continue to be supportive of the companies working in the Kurdistan Region. We are very appreciative in particular of the dedication of DNO and Genel Enerji, which have both invested significantly in the Region. The KRG last week agreed to increase the share of Genel Enerji payments with respect to any local oil sales, and will do the same for DNO in due course.

Så er KRG på banen, og de snakker godt om DNO igen.



19/9 2009 21:19 018700



ref. punkt. 6.

Vil det sige at DNO får en højere andel af de lokale salg?



20/9 2009 10:45 JCBN 118720



Det vil vel bare sige de får lidt flere penge for deres lokale salg.
Ik alverden, men alt tæller vel.
Det er jo eksport vi vil have penge for.




20/9 2009 12:06 018722



frit citeret fra den danske sangskat....

alt ting tæller...alle kneb gælder



20/9 2009 16:29 JCBN 018730



Her er et indlæg som jeg så på EI, og som virkelig beskriver situationen på en sober måde, måske med DNO briller på, men alt i alt en super god gang læsning.

Alt kredit går til en "Dida" på EuroInvestor.

Didas indlæg:

"DNO aktien har været genstand for markante fald, rygtespind og spekulationer i denne uge i et omfang der vækker en del opsigt. Op- og nedturene er velkendte siden 2004, men denne gang virker det som om, at en kombination af negative rygter, specialister og recessionsforskrækkede investorer er ved at starte en ørkenkrig.

Problemet er i virkeligheden at økonomiske eksperter og investeringsrådgiver i deres indsnævrede fokus på P/E og alskens statistik, samt efterregulerede anbefalinger, og ultra kortsigtet stop loss aktiveringer, ser helt væk fra de væsentlige faktorer i DNO virke og fremtid.

DNO har klart angivet i deres seneste pressemeddelelse, hvad deres strategi er. Uanset om man er glad for DNO eller ej burde vi faktisk juble. DNO?s strategi virker faktisk, idet store selskaber som læner sig op ad den centrale regering ikke er kommet videre med gennembrud i deres forhandlinger. Faktisk må man konstatere, at de er kørt helt af sporet. Tilbage står DNO som løbende udvider deres reserver og rent faktisk får solgt olien. Nogle kalder det til spotpris og uprofessionelt når det er med lastvogne på et lokalt marked???men omkostningerne er ultra lave og selv de lokale priser er opadgående, så pengene ruller da ind. Spørgsmålet er vel, hvor mange andre olieselskaber tjener penge i Irak for nærværende??og tillige har massive koncessioner i Yemen foruden et stort søgeprogram. Faktisk går alt overskud til at finde mere olie. Måske er vi idioter....men hvorfor er jeg så glad?

Hvad er det så med den eksporttilladelse?
Tjaa?.faktisk ingenting. Tilladelsen til at tilslutte sig rørledningen er nu blevet en arabisk formsag efter at DNO kraftigt reviderede deres kontrakter. Derudover er det bevist, at deres kontrakter er indgivet før det nuværende udkast til olielov kom på banen, hvorfor de sidestilles med selskaber der har indgået aftaler med det centrale styre. Derfor er der heller ikke problemer andet end arabisk bureaukrati og smøring.
Faktisk vil ingen i administrationen i dag benægte at KRG havde rettigheder til at forhandle vilkårlige handelsaftaler frem til 2005 og vedr. olie frem til februar 2007, hvor hhv. Kurdistans status blev ændret og udkastet til olieloven trådte blev lagt frem.

Grunden til at kurderne står hårdt på mht. de 17-20 kontrakter de allerede har indgået er, at de besidder en trumf som hedder "constitutional Article 140", der giver mulighed for at anvise et områdes regionale styreforhold ved bl.a. folkeafstemning. Kirkuk-området er her i fare for at ryge til KRG. Indlemmes Kirkuk i Kurdistan, sidder KRG pludselig på en af verdens største olieforekomster, nemlig det næststørste felt i Irak samt et meget større landområde, og det vil Bagdad og Tyrkiet forsøge med alt magt at undgå da dette på sigt kunne give dem mere magt til en uafhængighed på lang sigt. Desuden føler shiitiske og sunni?minoriteter sig snydt ved en sådan manøvre. Mindretal råber jo højt, særligt når de ha rkurdiske liv p åsamvittigheden fra det gamle styre.

Men der er ikke nogen vej uden om, der SKAL være folkeafstemning om 140, da det er nedfældet i grundloven.
Dette gir Kurderne et meget stærkt forhandlingskort. For kun KRG kan afgive disse rettigheder, eller dele af disse områder. Hvilket jo kan være en trumf til at få kontrakter igennem m.m., for hvorfor indlemme væsentlige problemer i Kurdistan når man kan blive araberrig af freden. Sidstnævnte er et vanvittigt kvantespring for Kurdistan, som i forvejen er meget fredfyldt og rigt i forvejen til resten af Irak.
Her må KRG føle sig sikre, for de har netop indgået to nye kontrakter ? dum provokation eller velovervejet ydmygelse? Nogle taler ligefrem om hemmelige dokumenter mellem KRG og præsidenten ? vi ved det ikke. Men KRG er meget selvsikre. Lige så sikre som da Uffe Ellemann i sin tid anerkendte de baltiske lande selvom Danmark som lilleputstat derved førte en stormagtspolitik.

Hvad så når USA skrider?
Det gør USA ikke. Nok reducerer de styrkerne til at bestå af velplacerede baser, men de forlader IKKE Irak 100%. Heri ligger så også Iranernes største årsag til at destabilisere Irak så USA kan få skylden (den korte version).

Imens leder DNO videre i Yemen og tester i skrivende stund to brønde som fra starten havde faktuelle olieforekomster, man ved blot ikke hvor meget endnu.

Konspirationsteorier?
Tror ikke på dem, men der er en stor afhængighed til den politiske proces i Irak. Når disse processer så dækkes af økonomiske specialister med ringe eller intet forstand på arabisk kultur, mellemøstlige spændinger eller politisk historie?..tja undskyld mig?..så må vi andre leve med en stærk volatibel aktie.

Men insiders solgte jo!!!!
Ja selvfølgelig gør de det?..og markedet reagerer i disse tider på rygmarv frem for analytisk tæft. Jeg ville da heller ikke som bosat i Norge pantsætte både hus og liebhaversommerhus bare for at betale min norske skat. Når så min løn også ydes som optioner, tja så sælger jeg en portion hvert år omkring dette tidspunkt. Tilbage har jeg så stadig 2/3 aktier. Næppe et udsalg på formodet nedgang. Men OK?.i et nervøst marked så opfattes ting negativt og stop losserne er i stram snor. Var jeg hasardinvestor ville jeg da også sælge. Men, vi ved at samme insidere solgte i juni sidste år. Der skal betales 49% skatt på løngoder fra optioner. Længere er den ikke. De andre innsidere har ikke samme aftale vedr. optioner, så derfor
ser vi ikke til dem."



20/9 2009 21:19 Rodion 218734



DIDA er en meget seriøs skribent med stor indsigt i Mellemøsten. Men jeg synes nok, du lige bør nævne, at hendes vurdering, som gengives her, er et par år gammel.
Det betyder ikke, at hendes indlæg er værdiløs, men hun refererer til situationer og omstændigheder, der ikke er relevante mere. F.eks. nævnes DNO-bestyrelsens salg af aktier, der skete for temmelig lang tid siden, og som ikke er relevant i dag. Dertil slås det fast, at USA ikke forventes at forlade Irak foreløbig. Hvilket jo ikke er rigtig, da Obama har sat et afrejsetidspunkt, og kommentaren går vel på Bush-regeringen? Og eksporten er jo også på plads nu, selvom det ikke kan ses på kursen.
Med venlig hilsen
Rodion



24/9 2009 12:13 collersteen 018820



Her er lidt email-korrespondance..... i sagen.
http://www.dn.no/bilder/naeringsliv/article1747413.ece

Det er nu stadig noget underligt at det øjensynligt er Genel Enerji der ejer aktierne, men de står alle sammen i KRG's depot ho HSBC....



25/9 2009 10:56 018851



Here is a timeline on DNO in the last year:

Oct. 10, 2008 - DNO says it has sold 44 million shares - about 4.8 percent of the company - for around $30 million to raise funds at a time when banks were reluctant to lend. DNO did not know the identity of the purchaser, the company says later.

March 10, 2009 - DNO says it expects Iraq and the Kurdish regional leadership to agree to allow it to export crude from its Kurdish fields in the coming months.

April 6 - DNO says Kurdish authorities have assigned minority stakes in three fields it is developing in Iraq's Kurdistan region, reducing DNO's 100 percent cost-paying obligations to 75 percent for the Tawke field, and to 60 percent each for Erbil and Duhok.

May 11 - Following a breakthrough in a feud with the central government in Baghdad over control of Iraq's oil wealth, DNO says it has received formal approval from the KRG to start exporting crude oil from its field in northern Iraq.

June 1 - DNO says it is exporting 45,000 barrels a day from the Tawke field, which at current Brent prices was worth some $100 million per month.

Aug. 19 - DNO says it has not been paid for nearly three months of oil exports from Iraq and says it hopes its Kurdish partners would soon agree a deal with Baghdad authorities over dividing oil revenues.

Sept. 21 - Oslo Stock Exchange suspends trading in DNO.

-- The KRG says it is suspending DNO's oilfield operations for six weeks after an OSE statement and newspaper reports surrounding the share sale had done it "incalculable harm".

Sept. 24 - Norway's financial sector watchdog Kredittilsynet says it has asked the police to probe the sale of DNO shares.



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