DNO International challenges ØKOKRIM claim

28.09.2012  |  Globenewswire Europe

Oslo, 28 September 2012 -- DNO International ASA ("DNO International"), the
Norwegian oil and gas company, announced today that it will challenge a decision
by ØKOKRIM (the Norwegian National Authority for Investigation and Prosecution
of Economic and Environmental Crime) to impose a fine of NOK 27 million on the
Company for alleged failures to comply with the Securities Trading Act.

ØKOKRIM has charged the Company with lack of disclosure to the market in respect
to the sale of 43,873,960 treasury shares in October 2008. This charge was
reviewed and dismissed by the Stock Exchange Appeals Committee in 2009, although
the Company was fined NOK 800,000 for failure to provide required information to
the administration of the Oslo Stock Exchange.

DNO International holds that the new ØKOKRIM fine and the reopening of a
previously settled case are in violation of fundamental legal provisions against
double jeopardy. Furthermore, the Company disputes the allegation that it has
engaged in market manipulation.

"These matters predate my tenure at the Company," said Executive Chairman Bijan
Mossavar-Rahmani. "But now, faced with double jeopardy in breach of basic
provisions of the European Convention on Human Rights, the Company has to
respond."

--- DNO International ASA is an Oslo-listed, Middle East and North Africa
focused oil and gas company holding stakes in 17 licenses in various stages of
exploration, development and production both onshore and offshore in the
Kurdistan Region of Iraq, the Republic of Yemen, the Sultanate of Oman, the
United Arab Emirates and the Tunisian Republic. http://www.dno.no ---

Oslo, 28 September 2012

DNO International ASA?
Corporate Communications

Queries: Tom Bratlie (tom.bratlie@dno.no or tel: +47 905 21 904)


This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)



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Source: DNO International ASA via Thomson Reuters ONE
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Unternehmen: DNO International ASA - ISIN: NO0003921009