Norwegian oil company DNO has confirmed more oil in deeper geology in two northern Iraqi oil fields, just as the company reported better-than-expected results and potential asset buyers that lifted its share price 10 percent in early Wednesday trading.

Company second-quarter profit after tax rose to NOK122.5 million, or some NOK50 million more that during the same period a year ago.

With the Hawke No. 5 and No. 8A wells producing a combined 17,000 barrels of oil per day, shareholders learned buyers were willing to pay $700 million dollars for DNO’s licenses in northern Iraq. No oil companies were named.

“The Board of Directors of DNO ASA has received an unsolicited expression of interest from a reputable financial advisor on behalf a large international oil company for DNO's license shares in Kurdistan,” a statement Wednesday said.

The company also said it was focusing on supporting work on an oil-export pipeline for northern Iraqi oil while supplying the domestic Iraqi market.