DNO International ASA - Agreements - Sale of sh...

("DNO" or "the Company")


On 12 October, 2009, DNO entered into a Share Purchase Agreement (the
"Agreement") with Aker ASA ("Aker") for the sale of up to 6 million
shares in Det norske oljeselskap ASA ("Detnor"). The Agreement is
based on the following transaction structure:

1. An unconditional sale by DNO to Aker of 1 million shares in Detnor
for a price of NOK 49.90 per share, based on the closing price on
Oslo Stock Exchange on 8 October, 2009. Completion of the Agreement
with respect to the unconditional sale of 1 million shares in Detnor
shall take place immediately.

DNO's new shareholding in Detnor will be 14,231,255 shares,
representing 21.92% of outstanding shares.

2. A conditional sale by DNO to Aker of 5 million shares in Detnor
for a price of NOK 49.90 per share, based on the closing price on
Oslo Stock Exchange on 8 October, 2009, subject to the approval by
the relevant competition authorities without conditions or on
conditions reasonably acceptable to Aker. Completion of the Agreement
with respect to the conditional sale of 5 million shares in Detnor
shall take place upon granting of approval for the transaction by the
competition authorities.

Subject to completion of the conditional sale of 5 million shares in
Detnor, DNO's new shareholding in Detnor will be 9,231,255 shares,
representing 14.22% of outstanding shares.

In 2007, DNO separated its subsidiary Det Norske Oljeselskap ASA with
the objective of making the company the number 2 exploration and
production company on the Norwegian Continental Shelf. In November,
2007, DNO merged the company with Petra to grow Detnor further. On 19
October, 2009 the general meeting of Detnor may approve the merger
with Aker Exploration ASA.

Aker's purchase of shares in Detnor today will strengthen Detnor
further as the number 2 company on the NCS by Aker increasing its
stake in the company. DNO will continue to support Detnor and its
strategy for further exploration and development on the NCS.

DNO will use the sale proceeds for general corporate purposes to
support the Company's international developments.

DNO International ASA
13 October, 2009


Contact:

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


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