Proposed merger of RAK Petroleum MENA subsidiar...

DNO International ASA (DNO) and UAE-based RAK Petroleum Public Company Limited
(RAK Petroleum) have signed a heads of agreement to merge RAK Petroleum's Middle
East and North Africa (MENA) operating subsidiaries into a subsidiary of DNO in
exchange for DNO shares to be issued to RAK Petroleum.

The consideration shares will be issued at a minimum share price of NOK 8.25 per
share and a maximum share price of NOK 10.00 against a value of the RAK
Petroleum MENA assets between USD 250 and 300 million.

See attached full stock exchange notice for more information.

Oslo, 4 July 2011

DNO International ASA
Corporate Communications


This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)




Proposed merger - SE Notice: 


http://hugin.info/36/R/1528052/463743.pdf




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Source: DNO International ASA via Thomson Reuters ONE

[HUG#1528052]