DNO withdraws appeal

Reference is made to the Stock Exchange Notices of 21 December 2010 and 10 March 2011.

In a ruling dated 17 September 2009, the Oslo Stock Exchange Appeals Committee imposed a fee on DNO in the amount of NOK 942,228 for breach of the duty to provide information pursuant to Section 24(7) of the Stock Exchange Act. The alleged breaches were related to a transaction in 2008.

The decision was brought to court by the DNO board at that time, but the Oslo City Court dismissed the appeal in December 2010.

The court decision was appealed by DNO in February 2011, but the new board of directors in DNO (elected in June 2011) has decided to withdraw the appeal and thus pay the fee and related costs.

The withdrawal of the appeal is part of a process initiated by DNO´s new board to improve governance and reduce unnecessary litigations.

Oslo, 20 January 2012

DNO International ASA
Corporate Communication

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

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Source: DNO International ASA via Thomson Reuters ONE

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