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DNO International Announces Executive Changes

ID: 1183349
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(Thomson Reuters ONE) -

Oslo, 28 December 2012 -- DNO International ASA ("DNO International"), the
Norwegian oil and gas company, announced today that its long-serving Managing
Director, Helge Eide, is stepping down effective 31 December 2012.

"After almost 17 years at DNO International, including the past 13 years as
Managing Director, it was time to make way for a new generation of leadership,"
said Eide. He noted that he originally considered leaving his position in 2011
but extended his tenure to help navigate DNO International through its
transformative merger with RAK Petroleum PCL that became effective early this

Bijan Mossavar-Rahmani, DNO International's Executive Chairman, said he accepted
the decision with great reluctance but deep appreciation for Eide's dedicated
service to the Company. "Helge leaves his position on a high note as 2012 has
shaped up to be DNO International's best year ever by so many operational,
financial and governance measures," he added.

DNO International has instituted a search for a replacement and in the interim
has named Bjørn Dale, its General Counsel, to the additional position of Acting
Managing Director.

Under Eide's termination agreement, he will continue to advise the Company on
strategy and business development.

---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---

Oslo, 28 December 2012

DNO International ASA
Corporate Communication

Queries: Tom Bratlie (tom.bratlie(at) or tel: +47 905 21 904)

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: DNO International ASA via Thomson Reuters ONE

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Date: 12/28/2012 - 08:01
Language: English
News-ID 1183349
Character count: 0
Firma: DNO International ASA
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Stadt: Oslo


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