Articles of Association as of 8 June 2007.
§1
The name of the company is DNO International ASA. The Company is a public limited company.
§2
The registered office of the Company is in Oslo.
§3
The object of the Company is to carry out petroleum-, shipping-, offshore-, transport-, trade-, industrial- and financing activity and other related activities, and to participate as a shareholder or in other ways in other enterprises.
§4
The shares of the Company are registered with Verdipapirsentralen (the Norwegian Central Securities Depository). The share capital is NOK 226.214.228 divided on 904.856.912 shares of NOK 0,25 each.
§5
The board of directors of the Company consists of 3 to 5 directors, and up to 2 deputies.
The annual general meeting elects the chairman and the vice-chairman of the board.
The Company is bound by the signature of the chairman of the board or by the joint signatures of two directors of the board.
§6
Notices of annual general meetings are published in two national newspapers and are sent in writing to all registered shareholders no later than two weeks before the annual general meeting is to take place.
§7
The following issues will be considered and decided by the annual general meeting:
• Adoption of the profit and loss statement and balance sheet, including application of the profit for the year or coverage of the loss for the year
• Adoption of the consolidated profit and loss statement and balance sheet
• Election of directors and deputy directors of the board of directors and determination of their remuneration
• Approval of the auditor’s fee
• Other issues which pursuant to law or the Articles of Association are to be decided by the annual general meeting