DNO International: Reports Strong First Quarter...

Oslo, 14 May, 2008: DNO International ASA (OSE:DNO) today announced
its interim results for the first quarter 2008. DNO reported
operating revenues of NOK 422 million (NOK 263 million) and a net
profit of NOK 62 million (NOK 19 million) in the first quarter 2008.

Oslo, 14 May, 2008: DNO International ASA (OSE:DNO) today announced
its interim results for the first quarter 2008. DNO reported
operating revenues of NOK 422 million (NOK 263 million) and a net
profit of NOK 62 million (NOK 19 million) in the first quarter 2008.


- We are very pleased with both our operational as well as our
financial achievements in the first quarter, and the Company can
report strong growth in the financial results resulting in a
strengthened cash flow and profitability. Our exploration efforts
have resulted in three oil discoveries, all in new areas, which we
expect will further increase our resource base at low costs during
2008. - said Helge Eide, Managing Director.

Three oil discoveries were made in the first quarter, all being from
exploration wells drilled in new areas. The Hawler #1 exploration
well in the Erbil PSC area in Kurdistan Region of Iraq tested 11,000
bopd aggregated from two tests in the Jurassic interval. The first
test delivered 9,000 bopd and this rate is expected to be limited by
surface test equipment.

In Block 47 in Yemen, the Sharnah #1 well has confirmed oil from
recent testing, and the Yaalen #1 well drilled earlier this year will
be tested immediately after completion of testing the Sharnah #1
well. In addition the Bayoot SW # 5 appraisal well in Block 53 in
Yemen tested 2,500 bopd, increasing the total well production
capacity for the Bayoot area to approximately 5,000 bopd.

The total gross delivery from DNO's producing assets was 31,224 bopd,
which is four percent ahead of plan.  DNO's working interest (WI)
production during the first quarter was 17,752 bopd, compared to a
guided volume of 16,000 bopd. DNO's WI production from the Tawke
field has now been adjusted in accordance with the revised PSC terms,
and is different compared to the preliminary reported figures.

During the first quarter DNO's Net Entitlement (NE) production was
14,404 bopd and the achieved oil price was USD 62 per barrel, which
is in line with the previously reported figures.

In the first quarter of 2008 DNO's sales increased to NOK 422
million, which is up 60 % compared to the first quarter of 2007. The
increase is related to both higher production volumes and higher
achieved oil price (NE).

The Company delivered a strong cash flow in the first quarter. The
EBITDA increased by 83 percent to NOK 291 million and the netback
increased by 65 percent to NOK 232 million, compared to last year.

The first quarter net profit amounted to NOK 62.4 million, compared
to NOK 19.0 million in the first quarter last year.

Total exploration expenditure in the first quarter of 2008 was NOK
157 million, compared to NOK 56 million in the first quarter of 2007.
Exploration expenditure consists of expensed and capitalized
exploration. Expensed exploration costs in the first quarter amounted
to NOK 34 million, of which NOK 4 million were dry well costs. The
capitalized exploration costs during the first quarter were NOK 123
million.

With a continued high level of exploration drilling throughout 2008
there is a good potential for further growth in reserves and
resources to DNO. The Company has not revised the overall guidance
for the WI production in 2008 but a reduction in NE production is
expected for the year as a result of the revised PSC terms for Tawke.
However, once export of oil from Tawke is in place the Company
expects to achieve a step change in production volumes.

***

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

DNO International ASA will give a presentation of the interim
financial statements for the first quarter 2008.

The presentation will be held at 10:00 A.M. on Wednesday 14 May, 2008
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 or at www.oslobors.no/webcast.  An
archived version of the webcast will be posted on www.dno.no shortly
after the presentation. The presentation will be given in English.

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]
Nick Melson, Buchanan Communications (UK); [phone]

Investor Relations contacts:
Haakon Sandborg, CFO, DNO International ASA;     [phone]
Robert Arnott, Advisor (UK); [phone]

Notes to the Editors:
DNO International ASA ("DNO") is an independent E&P company engaged
in the acquisition, exploration, development and operation of oil and
natural gas properties. The company's head office is in Oslo, Norway,
with worldwide activities. DNO serves as operator or active license
partner in several production and exploration assets, and our current
assets are in UK, Yemen, and the Kurdish region of Northern Iraq as
well as Equatorial Guinea, Mozambique and Syria.

Please visit DNO Internationals new corporate website on www.dno.no
for more information about the company and its operation. The website
also includes an online media center where visitors can download
images from our production sites as well as photos of our management