DNO ASA: Notification - Holding of Synthetic Shares

Oslo, 12 February 2016 - DNO ASA ("DNO") announces that on 12 February 2016 the following primary insiders have acquired synthetic shares in DNO under the Employee Share Saving Scheme (the "Scheme") at a price of NOK 4.12 per synthetic share based on the closing price on 11 February 2016:

Name Title Synthetic shares Purchased Total no of sold/settled synthetic shares Total holding of synthetic shares
Scott North General Manager Yemen 9 727  - 49 851
Michel Pick General Manager Tunisia 11 306  - 77 935
Jeroen Regtien Chief Operating Officer 14 185  - 36 821
Haakon Sandborg Chief Financial Officer 3 638  - 27 071
David Thorpe General Manager Ras Al Khaimah 4 134  - 29 334
Steven van Rossem General Manager Oman 15 607   - 19 056

Note that the total holding of synthetic shares in the Scheme is affected by bonuses awarded as contribution to the Scheme and matching synthetic shares.

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Oslo, 12, February 2016

DNO ASA

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.