New Management Appointments; Post-Merger Integr...

Following the 10 January, 2012 merger with the RAK Petroleum PCL operating subsidiaries, DNO International ASA has now completed a corporate management reorganization and made appointments to key management positions drawing from experienced leaders from both teams. The full integration of assets and people is on fast track and expected to be completed before the end of next month.

Under the new organization structure, full time dedicated country managers have been appointed for each of the five core areas in which the company operates within MENA, reporting to Magne Normann who has been promoted to Chief Operating Officer of DNO International.

The new country managers will transfer to and be resident in each country, strengthening DNO International's presence and demonstrating a commitment to stepped up investment programs.

The following members of the RAK Petroleum management team have been appointed new country managers: Nicholas Atencio for the Kurdistan Region of Iraq; Michel Pick for Tunisia; and David Thorpe for Ras Al Khaimah.

From the DNO International team, David Grassick and Colin Kramer have been appointed country managers for Oman and Yemen, respectively.

In the Oslo head office, Tore Lilloe-Olsen has been named Director Group Exploration and Subsurface and Trond Myrseth has been named Director Group Operations.

They join the rest of the corporate management team consisting of Helge Eide, Chief Executive Officer; Haakon Sandborg, Chief Financial Officer; Bjørn Dale, General Counsel and Secretary to the Board of Directors; Tom Bratlie, Director Corporate Communication and Public Affairs; and Anita Hjerkinn Aarnæs, Director Human Resources.

The new organizational model will have three technical departments which will provide personnel and resources to the operations across the group. Ståle Monstad has been appointed Geoscience Department Manager, Kenneth Myrvold Petroleum Engineering Manager and Jon Petter Seargent, Drilling and Production Manager.

"I am very pleased with the new organization. We have revamped the DNO International management structure and enhanced it by adding experienced leaders from RAK Petroleum. United, we represent a stronger team, which is well positioned to achieve our ambitions for continued growth and value creation in the MENA region," says Helge Eide, Chief Executive Officer.

Oslo, 25 January 2012

DNO International ASA
Corporate Communications

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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