DNO INTERNATIONAL ASA - RESULTS FOR THE FIRST Q...

Oslo, 11 May 2010: DNO International ASA (OSE: DNO) today announces its results
for the first quarter 2010.

The total operating revenues in the first quarter increased to NOK 259 million,
up from NOK 184 million in the same period last year.  Increased local
deliveries in Kurdistan and higher oil prices contributed to the increase in
operating revenues.

With the higher revenues, and a 30% reduction in the cost of goods sold, the
operating profit (EBIT) in the first quarter amounted to NOK 95 million compared
to a loss of NOK 77 million in the first quarter of 2009.

The cash flow in the period, represented by netback, amounted to NOK 139
million, which represents an increase from NOK -6 million last year.  The cash
position increased to NOK 671 million in the quarter. At current oil price
levels DNO expects that its cash position and cash flow from producing assets
will be sufficient to cover the planned investments for this year. DNO is also
considering additional investments, which will be contingent on drilling results
and available funding.

The net profit was NOK 15 million in the first quarter (NOK 138 million).

"We are pleased with the results in the first quarter. Backed by higher oil
production and favourable oil prices compared to last year, the financial
results have improved significantly this quarter. The drilling results from
Yemen are encouraging, with the Yaleen-3 well now successfully tested and we now
intend to accelerate the development of this area.", said Helge Eide, Managing
Director.


For full interim report, please see the attachments onwww.newsweb.no
<

http://www.newsweb.no> and www.dno.no <

http://www.dno.no>.

DNO will give a presentation of the interim financial statements for the first
quarter 2010 on Tuesday 11 May 2010 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  An archived version of the webcast will be posted on www.dno.no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, 11 May 2010


For further information, please contact;

Media contacts:
Helge Eide, Managing Director, DNO International ASA; [phone]
Ketil Jørgensen, Crux Kommunikasjon (Norway); +47 930 36 866
Ben Willey, Buchanan Communications (UK); [phone]

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




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


[HUG#1414492]





    1st Quarter Presentation 2010: 

http://hugin.info/36/R/1414492/365838.pdf
    1st Quarter 2010: 

http://hugin.info/36/R/1414492/365837.pdf