DNO ASA - Share Issue/Capital Change 2022

Registration of Share Capital Increase

Oslo, 13 October 2022 - DNO ASA, the Norwegian oil and gas operator, refers to

the 11 October 2022 announcement on the closing of the transaction with RAK

Petroleum plc ("RAK Petroleum") by which the Company will acquire assets in West

Africa.

Pursuant to the approval given by DNO's Extraordinary General Meeting of 13

September 2022, the Company has issued 78,943,763 new shares to RAK Petroleum as

consideration for the asset transfer between the companies. The new shares have

today been registered with the Norwegian Register of Business Enterprises

(Brønnøysundregistrene).

Following the registration, DNO's share capital is NOK 263,594,127.25 divided

into 1,054,376,509 shares, each with a nominal value of NOK 0.25.

For further information, please contact:

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, the United

Kingdom, Netherlands 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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