DNO International ASA - Notice from Kurdistan R...

Reference is made to the attached notice received today from KRG and
to the attached Press Release published by KRG on 19 September 2009.
In these documents KRG refers to the recent publications made by Oslo
Stock Exchange ("OSE") in connection with the sale of treasury shares
by DNO on 10 October 2008.


DNO notes the reaction by KRG to the recent publications by OSE and
the media, and the perceived consequences thereof to KRG. DNO will
direct its full attention to the situation and the requirements of
KRG. DNO will explore all options available to protect the interests
of DNO shareholders.

DNO strongly rejects that OSE had any rights to make public the
content of the decision made by the Board of Directors of OSE and
decision made by Oslo Stock Exchange Appeal Committee (OSEAC). By
doing so OSE has breached its confidentiality obligations and
released misleading and incomplete information. This has caused the
media to publish speculative, misleading and incorrect information
causing unjustifiable and incalculable harm to the reputation of DNO
as well as the KRG and the Minister of Natural Resources.

As reported on Friday 19 September 2009, the Oslo Stock Exchange
Appeal Committee (OSEAC) concluded that DNO did not hold insider
information related to the sales of the shares from the transaction
date in October 2008 and until the Company released the Stock
Exchange Notice on 6 April 2009. However, OSE itself has now
published confidential information which is far beyond what OSE
required to be disclosed by DNO.  It has been concluded by OSEAC that
this was not required to be disclosed by DNO. OSE has however,
intentionally decided to ignore applicable laws and regulations and
DNO's warning of possible consequences by breach of confidentiality.

DNO is highly critical of OSEs conduct in this process. DNO has
advocated strongly that confidentiality obligations imposed by law
restrict public access to information in this matter. Until recently,
OSE also shared DNOs view on this issue, and had decided to black out
sections of the decision of the OSE Board of Directors of 17 June
this year. However and without forewarning DNO was on the evening of
16 September, the day before the meeting of the OSEAC, informed by
OSE that they had decided to grant full disclosure to all parts of
the decision.

The wrongful undertakings by OSE have now lead to serious
consequences to DNO.  DNO is now considering initiating legal actions
against OSE for damages as a result of willful breach of
confidentiality.  The claim for damages may be substantial.



DNO International ASA
21 September 2009


Contacts:
Media:
Helge Eide, MD DNO International ASA   Telephone:    [phone]
Ketil Jørgensen, Crux Communication    Telephone     [phone]
(Norway)
Ben Willey, Buchanan Communications    Telephone:    [phone]
(UK)

Investor Relations:
Haakon Sandborg, CFO DNO International Telephone:    [phone]
ASA


This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.