DNO Receives 10 Awards in Norway's APA Licensing Round

Oslo, 14 January 2020 - DNO ASA, the Norwegian oil and gas operator, today announced that its wholly-owned subsidiary DNO Norge AS has been awarded participation in 10 exploration licenses, of which two are operatorships, under Norway's Awards in Predefined Areas (APA) 2019 licensing round.

Of the 10 new licenses, five are in the North Sea, two in the Norwegian Sea and three in the Barents Sea. Prior to today's announcement, DNO held interests in 87 licenses offshore Norway, of which 22 are operated by the Company.

The new awards under the APA 2019 licensing round include:

PL1083: Lundin Norway AS (operator), Petoro, DNO Norge AS (30%)

PL1077: Equinor Energy AS (operator), DNO Norge AS (40%)

PL1076: Equinor Energy AS (operator), DNO Norge AS (50%)

PL1070: Total E&P Norge AS (operator), Vår Energi AS, DNO Norge AS (30%)

PL1056: AS Norske Shell (operator), Petoro, Wintershall DEA Norge AS, DNO Norge AS (20%)

PL1048: Lundin Norway AS (operator), DNO Norge AS (50%)

PL987 B: Suncor Energy Norge AS (operator),  Vår Energi AS, Lundin Norway AS, DNO Norge AS (20%)

PL055 E: Wintershall DEA (operator), Repsol Norge AS, Vår Energi AS, Neptune Energy Norge AS, DNO Norge AS (14.2567%)

PL984 BS: DNO Norge AS (operator, 40%),  Vår Energi AS, Source Energy AS

PL1036: DNO Norge AS (operator, 60%), Source Energy AS

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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, Ireland and Yemen.

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