Statement from the Board of Directors with rega...

Reference is made to a Stock Exchange Notice released by Petrolia ASA on 24
October 2011 under the heading: "Reject RAK-DNO merger or risk taken on
decommissioning liabilities that could exceed several hundred million dollars"

The notice from Petrolia contains clear misinterpretations and false accusations
and falls in line with other disinformation being distributed by Petrolia on
several occasions during the past weeks.

The Board of Directors of DNO International ASA has discussed this in an
extraordinary board meeting today and wish to make the following statements:

The Board of Directors stands behind the proposed merger and the comprehensive
due diligence and valuation protocols and procedures that led up to the proposal
that has been presented to shareholders.

The merger is fully consistent with DNO's long standing growth strategy and
marks the first step towards becoming a significantly larger player in the MENA
region.

During the process arriving at recommending the merger to our shareholders, DNO
has had strong focus on proper corporate governance. A wide group of external
advisers have assisted the Company in providing their independent and objective
views and input in order to arrive at fair relative valuations to be used for
the merger.

"The board is confident that the merger plan that has been proposed will be
beneficial to our Company, employees and all shareholders" stated Gunnar Hirsti,
the vice chairman of DNO International ASA.

Mr. Hirsti continues, "We are very puzzled about the strong opposition and also
the nature of the allegations now being made by the former chairman of the
Company as he was one who initiated and actively promoted the merger for a
significant period of time."

For the clarification and corrections to the false information distributed by
Petrolia, we attach for reference a release issued today by RAK Petroleum PCL.

Oslo, 25 October 2011

DNO International ASA
Board of Directors

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




Statement from RAK Petroleum PCL: 


http://hugin.info/36/R/1557642/480965.pdf




This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
    
Source: DNO International ASA via Thomson Reuters ONE

[HUG#1557642]