SHARE BUYBACK TO BE RESUMED

DNO International ASA's Board of Directors today announced a resumption of a share buyback program announced on 10 August 2011.

Between 18 August and 7 October, the Company acquired a total of 25,500,000 shares, which are currently held in treasury, pursuant to a shareholder approval to acquire up to 80,000,000 shares.

"We believe that in current market conditions, the DNO share price remains attractive. Acquisition of the balance of the authorized buy back volumes will afford the Company flexibility to utilize these shares in future transactions", says Bijan Mossavar-Rahmani, the DNO Chairman.

Oslo, 30 October 2011

DNO International ASA
Board of Directors

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