DNO ASA — Major Shareholding Notification 2015

Nov 6, 2015

DNO ASA: Notification - Holding of Synthetic Shares

DNO ASA: Notification - Holding of Synthetic Shares

Oslo, 6 November 2015 - DNO ASA ("DNO") announces that on 6 November 2015 the

following primary insiders have acquired synthetic shares in DNO under the

Employee Share Saving Scheme (the "Scheme") at a price of NOK 6.16 per synthetic

share based on the closing price on 5 November 2015:

+--------------+---------------+--------------+-----------------+--------------+

| | |Synthetic |Total number of |Total holding |

|Name |Title |shares |sold/settled |of synthetic |

| | |purchased |synthetic shares |shares |

+--------------+---------------+--------------+-----------------+--------------+

|Scott North |General Manager| | | |

| |Yemen |  6 176 |   -|    38 572  |

+--------------+---------------+--------------+-----------------+--------------+

|Michel Pick |General Manager| | | |

| |Tunisia |  21 217 |   -|    64 499  |

+--------------+---------------+--------------+-----------------+--------------+

|Jeroen Regtien|Chief Operating| | | |

| |Officer |  9 403 |   -|    22 636|

+--------------+---------------+--------------+-----------------+--------------+

|Haakon |Chief Financial| | | |

|Sandborg |Officer |  2 434 |   -|    22 492|

+--------------+---------------+--------------+-----------------+--------------+

|David Thorpe |General Manager| | | |

| |Ras Al Khaimah |  4 139 |   -|   25 200|

+--------------+---------------+--------------+-----------------+--------------+

|Claes Åbyholm |General Counsel|  3 651 |   -|    9 762|

+--------------+---------------+--------------+-----------------+--------------+

|Steven van |General Manager| | | |

|Rossem |Oman |   3 449   |   -|    3 449  |

+--------------+---------------+--------------+-----------------+--------------+

Note that the total holding of synthetic shares in the Scheme is affected by

bonuses awarded as contribution to the Scheme and matching synthetic shares.

--

Oslo, 6 November 2015

DNO ASA

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1964811]