DNO ASA - Board/Management Information 2023

DNO Announces Management Transition

Oslo, 7 September 2023 - DNO ASA, the Norwegian oil and gas operator, today

announced that Christopher Spencer has been appointed Managing Director of the

Company as Bjørn Dale steps down as part of a planned management transition

initiated last year.

Mr. Spencer has been DNO's Chief Operating Officer since 2021. Before joining

DNO six years ago, he served as chief executive of Rocksource ASA and in various

commercial and technical roles at Royal Dutch Shell and BP. He is a Chartered

Engineer with the Institution of Chemical Engineers in the United Kingdom.

Mr. Dale joined DNO in 2011 as a corporate lawyer prior to his appointments as

General Counsel and Managing Director. He will continue to advise the Company on

legal and commercial matters for a period of six months following Mr. Spencer's

appointment effective 8 September 2023.

"Chris will provide strong leadership as DNO builds up its position in the North

Sea even as he continues to be fully engaged in driving our operations in the

Kurdistan Region of Iraq and Côte d'Ivoire," said Executive Chairman Bijan

Mossavar-Rahmani. "He is not just hands-on, he is hands-in."

DNO has participated in six discovery wells since 2021 offshore Norway, adding a

total of 100 million barrels of oil equivalent (MMboe) net to DNO, of which 78

MMboe have been added so far this year. The Company will push for early

commercialization of these discoveries.

For further information, please contact:

DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North

Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the

Company holds stakes in onshore and offshore licenses at various stages of

exploration, development and production in the Kurdistan region of Iraq, Norway,

the United Kingdom, Côte d'Ivoire, Netherlands and Yemen.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act and section 4.2.4 of Euronext Oslo

Rulebook II.

AI assistant