Reference is made to the election of two new members of the Board of Directors
of DNO International ASA at the Annual General Meeting (AGM) on 17 June 2010.
Based on a proposal from RAK Petroleum PCL and after consultation with other
shareholders, the Board recommended to the AGM that Dr. Zalmay Khalilzad and Ms.
Shelley Watson be elected as new members of the Board of Directors.
DNO has received the following statement from Dr. Khalilzad:
"Regrettably, due to an increasingly heavy schedule and workload, I must decline
the opportunity to serve on the Board of Directors of DNO International ASA. As
a member of the Board of Directors of RAK Petroleum PCL, I will of course
continue to follow DNO's ongoing development."
The Board of Directors of DNO has today considered the statement from Dr.
Khalilzad. According to §5 in the Articles of Association, the Board of
Directors of DNO consists of 3 to 5 members. Even after Dr. Khalilzad's
decision, the board consists of 4 members and is in compliance with the Articles
of Association. Therefore, the Board of Directors has decided not to propose any
by-election.
The Board of Directors of DNO consists of Berge Gerdt Larsen (Chairman), Shelley
Watson (Deputy Chairman), Gunnar Hirsti and Marit Instanes.
Oslo, 11 August 2010
DNO International ASA
Board of Directors
[HUG#1437153]
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Source: DNO International ASA via Thomson Reuters ONE
DNO ASA is a Norway-based oil and gas exploration and production company. It is engaged in the acquisition, develop-ment and operation of oil and gas properties. Its activities are primarily undertaken in the Middle East and the North Afri-can (MENA) region. It holds stakes in oil and gas 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. The Company operates through its head office in Oslo, and a network of offices throughout the MENA region. Its subsidiaries include DNO Yemen AS, DNO UK Ltd, DNO Invest AS, DNO Tunisia AS, DNO Iraq AS, and DNO Mena AS.
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