DNO ASA - Major Shareholding Notification 2018

DNO Acquires Additional Shares in Faroe Petroleum

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

it has acquired 8,487,838 shares in Faroe Petroleum plc at a price of GBP 1.25

per share representing 2.32 percent of the outstanding shares in Faroe

Petroleum.

This follows the separate completion on 4 April 2018 of a reverse book building

process through which DNO acquired 10 percent of the shares in Faroe Petroleum

at a price of GBP 1.25 per share and the acquisition of 15.37 percent of the

share capital of Faroe Petroleum from Delek Group Ltd. at a price of GBP 1.25

per share.

Following the three transactions, DNO will own 101,503,663 shares representing

27.68 percent of the outstanding shares in Faroe Petroleum.

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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