DNO International ASA - Press Release from the ...

("DNO" or "the Company")


Reference is made to a press release issued by the Oslo Stock
Exchange Appeals Committee ("OSEAC") on 17 September 2009, concerning
DNO's appeal against the a decision by the board of Oslo Stock
Exchange ("OSE") on 17 June 2009 to impose certain penalty payments
on DNO, due to an alleged breach of its obligations to release
information to OSE and to release information to the market.

The alleged breach of such obligations was according to OSE related
to DNO's sale of 43,873,960 treasure shares on 10 October, 2008. The
OSEAC has concluded that DNO had not breached its obligation to
release information to the market in relation to the sales of the
shares, but maintained the breach of obligation to release
information to OSE.

DNO note that the decision made by OSEAC supports the Company's
position that it has complied with its obligation to release
information to the market in relation to the share transaction.

Prior to the sale of the treasury shares, DNO searched potential
buyers both through direct and indirect contacts. The main rationale
behind of the sale of the shares was triggered by the turbulence in
the financial market at the time where traditional sources of
financing were not available. The Company's key focus was to sell the
shares at the best possible price and the sale was completed
substantially above the then current trading value

The sale of the shares was as required under applicable regulations
reported immediately to the market on 10 October, 2008. The shares
sold by DNO were held under a UK nominee account and the beneficiary
ownership of the shares was at the time not known to the Company.

In the beginning of April 2009 the Company received information about
the beneficiary owner of the shares sold by DNO on 10 October 2008
which was then reported to the market in a Stock Exchange Notice
released on 6 April 2009. In this Stock Exchange Notice it was
reported that Genel Enerji was the beneficial owner of the shares.

The OSEAC decision on 17 September 2009 concludes that DNO did not
hold in its position information considered as insider information
related to the sales of the shares until the Company received
information about beneficiary owner of the shares in the beginning of
April 2009. DNO have therefore fully complied with its obligation to
disclose information to the market in relation to the above mentioned
sales of shares, which has now also been supported by the OSEAC.

Despite this conclusion reached by the OSEAC, the OSE has decided to
publish the full minutes from the meeting on 17 June 2009.

DNO strongly rejects that OSE has the right to do so as such minutes
contains several allegations against DNO which DNO has rejected and
which has also not been supported by the OSEAC.   This may lead to
speculative and misleading conclusions, and make available to the
market information deemed not to be required to be disclosed and
irrelevant for evaluating the Company's shares.


DNO International ASA
18 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)                                                  5000

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.