DNO Reports Payment for Tawke Deliveries

Oslo, 10 May 2017 - DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 41.40 million from the Kurdistan Regional Government as payment towards February 2017 crude oil deliveries to the export market from the Tawke field.

The funds, to be shared pro-rata by DNO and partner Genel Energy plc, include USD 34.73 million toward monthly deliveries and USD 6.68 million toward recovery of outstanding receivables.

Tawke production in February averaged 110,803 barrels of oil per day (bopd), of which 110,641 bopd was delivered for export through Turkey.

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For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no
Tel: +47 911 57 197

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DNO ASA is a Norwegian oil and gas operator focused on the Middle East and North Africa. 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, Oman, Somaliland, Tunisia and Yemen.

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

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: DNO ASA via GlobeNewswire
HUG#2103159