DNO ASA - Capital/Financing Update 2017

DNO Reports Payment for Tawke Deliveries

Oslo, 10 November 2017 - DNO ASA, the Norwegian oil and gas operator, today

reported receipt of USD 46.53 million from the Kurdistan Regional Government as

payment for August 2017 crude oil deliveries to the export market from the Tawke

license. The funds will be shared by DNO and partner Genel Energy plc pro-rata

to the companies' interests in the license.

Separately, a payment of USD 4.27 million from the Kurdistan Regional Government

has been received net to DNO, representing three percent of gross Tawke license

revenues during September 2017, as provided for under the recent receivables

settlement agreement.

DNO operates and has a 75 percent interest in the Tawke license, which contains

the Tawke and Peshkabir fields. Combined production from the two fields year-to-

date has averaged 110,000 barrels of oil per day.

For further information, please contact:

Tel: +47 911 57 197

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

Africa region and the North Sea. 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, Oman, Somaliland, Tunisia, the United Kingdom and Yemen.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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