DNO ASA — Major Shareholding Notification 2016

Feb 12, 2016

DNO ASA: Notification - Holding of Synthetic Shares

DNO ASA: Notification - Holding of Synthetic Shares

Oslo, 12 February 2016 - DNO ASA ("DNO") announces that on 12 February 2016 the

following primary insiders have acquired synthetic shares in DNO under the

Employee Share Saving Scheme (the "Scheme") at a price of NOK 4.12 per synthetic

share based on the closing price on 11 February 2016:

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

| | |Synthetic |Total no of |Total holding |

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

| | |Purchased |synthetic shares |shares |

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

|Scott North |General Manager| 9 727 | - | 49 851 |

| |Yemen | | | |

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

|Michel Pick |General Manager| 11 306 | - | 77 935 |

| |Tunisia | | | |

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

|Jeroen Regtien|Chief Operating| 14 185 | - | 36 821 |

| |Officer | | | |

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

|Haakon |Chief Financial| 3 638 | - | 27 071 |

|Sandborg |Officer | | | |

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

|David Thorpe |General Manager| 4 134 | - | 29 334 |

| |Ras Al Khaimah | | | |

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

|Steven van |General Manager| 15 607 |  - | 19 056 |

|Rossem |Oman | | | |

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

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, 12, February 2016

DNO ASA

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1985684]