Fourth quarter and full year 2011 DNO results: Record production and revenues

DNO International ASA, the Norwegian oil and gas company, today announced record
operational and financial results for 2011 and unveiled the most extensive
drilling program in its 40-year history as it accelerated plans for a listing on
the London Stock Exchange later this year.

Working interest (WI) production in 2011 more than doubled to 39,966 barrels of
oil per day (bopd) versus 17,381 bopd in 2010. WI production in the fourth
quarter was 34,656 bopd.

Record high 2011 production resulted in record high operating revenues of NOK
2,070 million in 2011, an increase of 65 percent over the previous year's NOK
1,251 million figure. For the fourth quarter, operating revenues were NOK 905
million.

Net profits for the fourth quarter 2011 hit NOK 203 million, bringing the full
year figure to NOK 653 million compared to a loss of NOK 283 million in 2010.

The Company ended the year with a cash position of NOK 1,752 million.

"We are investing in additional production capacity through facilities upgrades
and new wells across our portfolio and anticipate continuing increased
production into 2012. There is also significant reserves upside from high impact
exploration, appraisal and development drilling," said Helge Eide, CEO.

A total of 19 wells are scheduled to be drilled during 2012. Two wells are
currently in progress in the Kurdistan region of Iraq with results expected
during the first quarter. Offshore Oman, drilling of the first of a three-well
development program in Block 8 is underway and slated for completion and tie-
back in the second quarter. In Yemen, the Company expects to re-commence
drilling in the first quarter of the year, conditions permitting.
In the Erbil license in Kurdistan, the field development plan for the previously
announced Benenan and Bastora discoveries was submitted to governmental
authorities in December and approval is expected this month. The first stage of
the development plan will commence in the second quarter, including drilling of
two horizontal development wells back-to-back.

Commenting on DNO International's plans, Mr Eide said, "Last year was a
milestone year for the Company with record production and revenues. It was also
a transformational year with the decision to acquire RAK Petroleum PCL's
portfolio of operating assets. The enlarged group has now refocused its
strategy, established a presence in five countries with participation in 17
licenses, the majority of which we operate, and is moving fast forward to
realize our ambition to create a significant oil and gas player in the Middle
East-North Africa region."

DNO International will hold a presentation at Buchanan, 107 Cheapside, London,
EC2V 6DN today at 10:00 CET.

The presentation can be viewed as a webcast on DNO International's website
www.dno.no.

Key figures

+------------------------------+--------+-------+--------------+---------------+
|NOK mill | Q4 2011|Q4 2010|Full year 2011| Full year 2010|
+------------------------------+--------+-------+--------------+---------------+
|Sales | 905| 302| 2,070|    1,252|
+------------------------------+--------+-------+--------------+---------------+
|EBITDA | 663| 159| 1,419|   474|
+------------------------------+--------+-------+--------------+---------------+
|Profit/loss from operating |  211|  87 | 658| 157|
|activities | | | | |
+------------------------------+--------+-------+--------------+---------------+
|Net profit/loss  | 203| -31| 653|  -283|
+------------------------------+--------+-------+--------------+---------------+

Additional information contained in the attached quarterly report.
Oslo, 15 February 2012

DNO International ASA
Corporate Communications

For more information:

Media: Communication Director Tom Bratlie, phone: +47 905 21 904
Financial Market: CFO Haakon Sandborg, phone: +47 23 23 84 80

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




Q4 and full year 2011 presentation:
http://hugin.info/36/R/1585821/496766.pdf

Q4 and full year 2011 interim report:
http://hugin.info/36/R/1585821/496764.pdf




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Source: DNO International ASA via Thomson Reuters ONE

[HUG#1585821]


Unternehmen: DNO International ASA - ISIN: NO0003921009