DNO ASA - Subsequent Offering

Following the approval of the Prospectus by Oslo Stock Exchange on 3 August 2007, the Subsequent Offering, directed at shareholders that were not invited to subscribe for shares in the Private Placement, will commence on 6 August 2007. The subscription period ends at 16:30 hrs (CET) on 17 August 2007.
The subscription price will be NOK 24 per share, the same as at the Private Placement. Eligible shareholders may subscribe for 0.0125 new shares for each share owned in DNO ASA as of the close of 21 June 2007, subject to rounding. The right to subscribe is not transferable and will not be listed on Oslo Stock Exchange. Over-subscription is allowed.
The detailed terms and conditions of the offering, including the order form, are included in the Prospectus dated 3 August 2007. A letter will be sent to eligible shareholders as of 21 June 2007.
Further information is available in the Prospectus dated 3 August 2007 (Subsequent Offering) which is posted on the company's website: www.dno.no and at Pareto Securities' web site: www.pareto.no. For further inquiries or for those shareholders who have not received an Order Form or would like to obtain a Prospectus, please contact Pareto Securities ASA on telephone +47 22 87 87 00 as soon as possible.
Det Norske Oljeselskap ASA
6 August 2007