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2015-12-15

DNO ASA: Share Buyback Program Initiated and Mandatory Notification of Trade

Oslo, 15 December 2015 - DNO ASA, the Norwegian oil and gas operator, has
initiated a new share buyback program and on 14 December 2015 purchased
1,500,000 own shares at a price of NOK 6.2237 per share.

The buyback program is pursuant to a shareholder vote at the Annual General
Meeting of 28 May 2015 authorizing DNO to purchase up to 108,381,416 own
shares.

The timing and volume of further share purchases will depend on market
conditions.

Following this transaction, DNO holds 1,500,000 own shares.

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For further information, please contact:
Media:media@dno.no

Investors:investor.relations@dno.no

Tel: +47 911 57 197

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DNO ASA is a Norwegian oil and gas operator focused on the Middle East and
North Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the
company holds stakes in onshore and offshore licenses at various stages of
exploration, development and production in the Kurdistan region of Iraq,
Yemen, Oman, the United Arab Emirates, Tunisia and Somaliland.

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

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: DNO ASA via Globenewswire

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