DNO ASA - Capital/Financing Update 2015

DNO ASA: Successful Closing of Bond Issuance

Oslo, 19 June 2015 - DNO ASA, the Norwegian oil and gas operator, has

successfully closed its issuance of USD 400 million of new, five-year unsecured

bonds. The bonds have been issued with ISIN NO0010740392.

In connection with the issuance, DNO repurchased portions of the USD and NOK

tranches of its previous bond. The company repurchased USD 15.4 million of the

USD tranche with ticker DNO13 and ISIN NO0010606189, leaving USD 124.6 million

outstanding. Additionally, it repurchased NOK 139 million of the NOK tranche

with ticker DNO14 and ISIN NO0010606197, leaving NOK 421 million outstanding.

For further information, please contact:

Tel: +47 911 57 197

DNO is a Norwegian oil and gas operator focused on the Middle East and North

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, Yemen, Oman, the

United Arab Emirates, Tunisia and Somaliland.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1929552]

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