DNO ASA — Earnings Release 2010

May 11, 2010

DNO INTERNATIONAL ASA - RESULTS FOR THE FIRST QUARTER 2010

Oslo, 11 May 2010: DNO International ASA (OSE: DNO) today announces its results

for the first quarter 2010.

The total operating revenues in the first quarter increased to NOK 259 million,

up from NOK 184 million in the same period last year.  Increased local

deliveries in Kurdistan and higher oil prices contributed to the increase in

operating revenues.

With the higher revenues, and a 30% reduction in the cost of goods sold, the

operating profit (EBIT) in the first quarter amounted to NOK 95 million compared

to a loss of NOK 77 million in the first quarter of 2009.

The cash flow in the period, represented by netback, amounted to NOK 139

million, which represents an increase from NOK -6 million last year.  The cash

position increased to NOK 671 million in the quarter. At current oil price

levels DNO expects that its cash position and cash flow from producing assets

will be sufficient to cover the planned investments for this year. DNO is also

considering additional investments, which will be contingent on drilling results

and available funding.

The net profit was NOK 15 million in the first quarter (NOK 138 million).

"We are pleased with the results in the first quarter. Backed by higher oil

production and favourable oil prices compared to last year, the financial

results have improved significantly this quarter. The drilling results from

Yemen are encouraging, with the Yaleen-3 well now successfully tested and we now

intend to accelerate the development of this area.", said Helge Eide, Managing

Director.

For full interim report, please see the attachments onwww.newsweb.no

and www.dno.no .

DNO will give a presentation of the interim financial statements for the first

quarter 2010 on Tuesday 11 May 2010 at 08:00 A.M. in the "Lille Sal" at Oslo

Konserthus, Munkedamsveien 14.

The presentation can also be followed live on the Internet, via a video webcast

at www.dno.no.  An archived version of the webcast will be posted on www.dno.no

shortly after the presentation. The presentation will be given in English.

DNO International ASA

Oslo, 11 May 2010

For further information, please contact;

Media contacts:

Helge Eide, Managing Director, DNO International ASA; +47 23 23 84 80

Ketil Jørgensen, Crux Kommunikasjon (Norway); +47 930 36 866

Ben Willey, Buchanan Communications (UK); +44 207 466 5000

Investor Relations contact:

Haakon Sandborg, CFO, DNO International ASA;  +47 23 23 84 80

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

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