DNO ASA - Capital/Financing Update 2019

DNO ASA: FAPE01 bond buyback

Oslo, 29 May 2019 - DNO ASA, the Norwegian oil and gas operator, today purchased

USD 5.0 million in nominal value of FAPE01 bonds (ISIN NO0010811268) originally

issued by Faroe Petroleum plc, now a wholly-owned subsidiary of the Company and

renamed DNO North Sea plc.

The bonds were purchased at a price of 107.25.

Following the bond buyback, USD 68.2 million in nominal value of the FAPE01

bonds remain outstanding with DNO holding the balance of USD 31.8 million. The

FAPE01 bonds mature on 28 April 2023.

For further information, please contact:

(https://www.globenewswire.com/Tracker?data=D9_IMB0eispHBHXrmeCzEwq2JCClVghbC4VO

LyklSHrBEeTLoHuvUj80WjbbbWdqKZtYGfrSgJ07T5YjSZkrJA==)

(https://www.globenewswire.com/Tracker?data=XmWsjnqJ1FDwXZfbxjRKZHKX_nmed9p1du2I

DhWn1aP9_ixn69_OtD0D7BOdCcmhRrKtXRhcUGozs3fiX6g7eQva-Mf0zSsVv-

6yW5TtxgimJiPgrr7tHhOe1TGO8eDX)

Tel: +47 911 57 197

DNO ASA is a Norwegian oil and gas operator focused on the Middle East 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, United

Kingdom, Netherlands, Ireland 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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