DNO International ASA - Stock Exchange Release ...

DNO International ASA

("DNO" or "the Company")


Reference is  made  to  a  stock exchange  release  issued  by  Audax
Resources LTD ("Audax") to the Australian Stock Exchange (ASX) on  16
October 2009, confirming that DNO and  Audax have signed a letter  of
intent on the Chorbane Exploration Permit in Tunisia.

Audax is an oil,  gas, gold and base  metal exploration company  with
operated assets  in  Australia, Italy  and  Tunisia. The  company  is
headquartered in  Perth,  Western  Australia and  is  listed  on  the
Australian Stock Exchange. A second technical office is operated  out
of Vienna, Austria.

Audax is the  operator and  holds a  100% interest  for the  Chorbane
Exploration Permit onshore Tunisia. Under  the LOI, DNO would earn  a
50% interest in the Permit by paying 100% of the costs for the  first
exploration well.  The  LOI is  subject  to a  number  of  conditions
precedent including the signing of a farm in agreement. The execution
of the farm  in agreement  would be  subject to  board approval,  all
necessary government authorizations and formal documentation.

The  forward  work  commitment  for  the  Chorbane  permit   requires
reprocessing of 1000km of 2D  seismic processing and the drilling  of
one exploration well.



DNO International ASA
16 October 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.