DNO ASA — M&A Activity 2019

Apr 30, 2019

DNO Completes Norwegian Asset Swaps with Equinor

DNO Completes Norwegian Asset Swaps with Equinor

Oslo, 30 April 2019 - DNO ASA, the Norwegian oil and gas operator, today

announced the completion of the asset swap agreement between Equinor Energy AS,

a wholly-owned subsidiary of Equinor ASA, and Faroe Petroleum plc, a wholly-

owned subsidiary of DNO, following approval by Norwegian authorities.

The transaction has an effective date of 1 January 2019.

As part of the transaction, Faroe Petroleum's interests in the non-producing

Njord and Hyme redevelopment and Bauge development assets were exchanged for

interests in four Equinor-held producing assets on a cashless basis, including

interests in the Alve, Marulk, Ringhorne East and Vilje fields.

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For further information, please contact:

Media: media@dno.no

(https://www.globenewswire.com/Tracker?data=dPiPDN4sjNpVxUphHr6nvPnK2PEUEtICjN1Y

c7fY4wzMsiE8oGQJvaCwlX_hb2QyN8k9-id3k1wI3EV1YcvxBw==)

Investors: investor.relations@dno.no

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Yli4IXqwyyhttkJzeRmsf8oyqo7Bi5Sw)

Tel: +47 911 57 197

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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.

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This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.