Larsen Oil & Gas AS, a company controlled by Chairman of the Board of DNO International ASA (DNO) Berge Gerdt Larsen, has on 17 January 2011 transferred 24,997,058 shares in DNO to Increased Oil Recovery AS at a price of NOK 8.98 per share.

Larsen Oil & Gas AS is a 100% owned subsidiary of Increased Oil Recovery AS. 

Following this transaction, companies controlled by Berge Gerdt Larsen still controls the same 30,836,342 shares in DNO, representing 3.25% of total shares in the Company.

Oslo, 18 January 2011

DNO International ASA
Corporate Communications

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