DNO ASA — Remuneration Information 2016

May 5, 2016

DNO ASA: Notification - Holding of Synthetic Shares

DNO ASA: Notification - Holding of Synthetic Shares

Oslo, 5 May 2016 - DNO ASA ("DNO") announces that on 5 May 2016 the following

primary insiders have acquired synthetic shares in DNO under the Employee Share

Saving Scheme (the "Scheme") at a price of NOK 6.042 per synthetic share based

on the closing price on 4 May 2016:

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

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

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

| | | Purchased |synthetic shares | shares |

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

|Claes Åbyholm |General Counsel|1 505 |  -| 11 267|

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

|Haakon |Chief Financial| |  -|  39 706|

|Sandborg |Officer |2 482 | | |

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

|James Edens |Commercial | |  -| 3 082|

| |Director |3 082 | | |

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

|Jeroen Regtien|Chief Operating| |  -|  43 891|

| |Officer |7 070 | | |

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

|Scott North |General Manager| |  -|  66 872|

| |Yemen |6 589 | | |

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

|Steven van |General Manager| |  -|  22 617|

|Rossem |Oman |3 561 | | |

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

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, 5, May 2016

DNO ASA

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#2010104]