DNO International Reports First Quarter 2014 Results

Oslo, 8 May 2014 -- DNO International ASA, the Norwegian oil and gas company,
today announced first quarter 2014 net profit of USD 24 million on operating
revenue of USD 113 million. Production climbed by more than a quarter from the
previous quarter to 45,744 barrels of oil equivalent per day on a company
working interest (CWI) basis.

The first quarter production figure includes oil deliveries from the Tawke field
in Kurdistan to storage facilities in Ceyhan, Turkey. These deliveries were
stepped up commencing April 26 and have been averaging some 100,000 barrels per
day gross over the past ten days from a total field production of over 120,000
barrels per day, with the balance sold to the local market in Kurdistan.

"We have our foot firmly on the accelerator in Kurdistan where we are now the
fastest growing producer and also number one in proven and probable oil and gas
reserves," said Bijan Mossavar-Rahmani, DNO International's Executive Chairman.

During the quarter, operational cash flow of USD 89 million exceeded capital
spending of USD 85 million. The Company's free cash balance at 31 March was USD
242 million in addition to which the Company held financial assets totalling USD
95 million. These financial assets include DNO International treasury shares and
a 4.2 percent stake in RAK Petroleum PCL, DNO International's largest
shareholder.

Operationally, horizontal drilling has continued to deliver exceptional results
at the Tawke field. During the first quarter, the Company brought two more high
deliverability horizontal wells on production as part of its back-to-back
drilling campaign that will see nine such wells completed by yearend. Elsewhere
in Kurdistan, the Company has initiated first sale of oil from the Benenan field
and first flow of gas from the Summail field.

Additionally, the Company has an active exploration and appraisal drilling
program over the next nine months targeting gross prospective resources of 570
million barrels of oil with seven wells across four countries.

DNO International will present its financial and operating results today in Oslo
at 10:00 CET (09:00 GMT). A live webcast of the presentation as well as the full
first quarter 2014 interim report will be available on the Company website
(www.dno.no).

--- DNO International ASA is an Oslo-listed, Middle East and North Africa
focused oil and gas company holding stakes in 20 blocks 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, the Tunisian Republic and Somaliland ---

Oslo, 8 May 2014

DNO International ASA
Corporate Communications
Queries: Bjorn Dale (bjorn.dale@dno.no or tel: +47 911 57 197)


This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.


Q1 2014 Report:
http://hugin.info/36/R/1783669/610930.pdf

Q1 2014 Presentation:
http://hugin.info/36/R/1783669/610931.pdf



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Source: DNO International ASA via GlobeNewswire
[HUG#1783669]