Mandatory Notification of Trade

Reference is made to the stock exchange notice dated 18 November 2010 regarding the completed private placement of 45 million new shares at a subscription price of NOK 8.00 per share in DNO directed towards Norwegian and international institutional investors.

RAK Petroleum PCL, represented on the Board of DNO, has been allocated 13 500 000 shares in this private placement. Following this transaction, shareholdings in DNO International ASA controlled by RAK Petroleum PCL is 284 957 075 shares, representing 30% of total shares in the Company.

Companies controlled by Chairman of the Board of DNO, Berge Gerdt Larsen, has been allocated 2 574 900 shares in this private placement. Following this transaction, shareholdings in DNO International ASA controlled by the Chairman is 29 789 821 shares, representing 3.14% of total shares in the Company.

Oslo, 18 November 2010

DNO International ASA
Corporate Communications

This information is subject of the disclosure requirements acc. to ยง5-12 vphl (Norwegian Securities Trading Act)