OSLO (Thomson Financial) - DNO ASA said it has rejected an unsolicited 700 mln usd bid by 'a large international oil company' for its licenses in Kurdistan and Northern Iraq.
The Norwegian oil minnow said it has 'reviewed the interest and decided not to pursue the matter further'.
The suggested price, it said, was based on information available in the market as of early July 2007.
'No further comments can be given due to confidentiality requirements,' DNO added. alastair.reed@thomson.com ar/slj COPYRIGHT Copyright AFX News Limited 2007. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.