DNO ASA — Earnings Release 2016

Mar 7, 2017

DNO Reports Payment for Tawke Deliveries

DNO Reports Payment for Tawke Deliveries

Oslo, 7 March 2017 - DNO ASA, the Norwegian oil and gas operator, today reported

receipt of USD 43.79 million from the Kurdistan Regional Government as payment

towards December 2016 crude oil deliveries to the export market from the Tawke

field.

The funds, to be shared pro-rata by DNO and partner Genel Energy plc, include

USD 36.73 million toward monthly deliveries and USD 7.06 million toward recovery

of outstanding receivables.

Tawke production in December averaged 110,335 barrels of oil per day (bopd), of

which 109,546 bopd was delivered for export through Turkey.

--

For further information, please contact:

Media: media@dno.no

Investors: investor.relations@dno.no

Tel: +47 911 57 197

--

DNO ASA 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, Tunisia

and Somaliland.

--

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.