Reference is made to DNO's stock exchange notice dated 16 October 2009, concerning signing of a letter of intent between Audax Resources Ltd ("Audax") and DNO for a farm-in transaction in Tunisia. The farm-in discussions have now been terminated, as the parties failed to agree on the transaction terms.
DNO continues to see Tunisia as an interesting country for new business development and other Tunisian license opportunities will be pursued going forward.
DNO International ASA
23 March, 2010