DNO ASA - Major Shareholding Notification 2018

DNO Acquires Additional Shares in Faroe Petroleum

13 April 2018 - DNO ASA, the Norwegian oil and gas operator, today announced

that it has acquired 3,744,203 shares in Faroe Petroleum plc at a price of GBP

1.25 per share representing 1.02 percent of the outstanding shares in Faroe

Petroleum.

Following the three transactions, DNO will own 105,247,866 shares representing

28.71 percent of the outstanding shares in Faroe Petroleum; all purchases have

been made at a price GBP 1.25 per share.

For further information, please contact:

Tel: +47 911 57 197

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, Oman,

Somaliland, Tunisia, the United Kingdom and Yemen.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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