DNO International ASA - Results for the second ...

Oslo, 19 August 2009: DNO International ASA (OSE: DNO) today
announces its results for the second quarter and YTD 2009.


The total operating revenues in the second quarter were NOK 358.7
million, down 13.4 per cent compared to the second quarter 2008. This
decline is primarily a result of significantly reduced oil prices as
well as lower production. For the first six months of 2009, operating
revenues were NOK 542.4 million, down from NOK 834.4 million
year-on-year. However, the operating revenues in the period were
positively impacted by the ramp-up of production and export sales
from the Tawke field contributing with approximately NOK 129 million
in the second quarter and year to date.

"In line with our change in focus in 2009 we have prepared for
increased production and scaled down our exploration activities and
overall investments in 2009. Through tight capital discipline we have
maintained a stable cash position throughout the first half of the
year," said Helge Eide, Managing Director

The operating profit (EBIT) in the second quarter amounted to NOK
117.6 million (NOK 125.3 million). In the first half of 2009, EBIT
ended at NOK 40.5 million (NOK 279.4 million).

The cash flow in the period, represented by netback, amounted to NOK
198.3 million (NOK 185.4 million), and for the first six months
netback amounted to NOK 192.7 million (NOK 416.9 million).

Net profit in the second quarter ended at NOK 230.9 million (NOK 13.6
million). The increase includes a partial impairment reversal on the
DETNOR investment.

DNO has focused on capital discipline, and as a result capital
expenditures for the second quarter were reduced to NOK 75.4 million
compared to NOK 344.6 million in the same period last year. The cash
position at the end of the second quarter was NOK 210 million.

DNO reached an historical milestone in Kurdistan on 1 June with the
commencement of crude oil export from the Tawke field. The field
delivery has been increased stepwise in line with the plan and the
current delivery from Tawke is around 50,000 bopd with 45,000 bopd
for export.

"We are pleased with the performance of the Tawke facilities which
has now confirmed deliveries at least in line with the design
capacity. Our key objective going forward is to maintain stable
production at high regularity", said Helge Eide, Managing Director

For full interim report, please see the attachments on www.newsweb.no
and www.dno.no.

DNO will give a presentation of the interim financial statements for
the second quarter 2009. The presentation will be held on Wednesday
19 August 2009 at 08:00 A.M. in the "Lille Sal" at Oslo Konserthus,
Munkedamsveien 14.

The presentation can also be followed live on the Internet, via a
video webcast at www.dno.no.  An archived version of the webcast will
be posted on www.dno.no shortly after the presentation. The
presentation will be given in English.

DNO International ASA
Oslo, 19 August 2009


For further information, please contact;

Media contacts:
Helge Eide, Managing Director, DNO International ASA; [phone]
Ketil Jørgensen, Crux Kommunikasjon (Norway); [phone]
Ben Willey, Buchanan Communications (UK); [phone]

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


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