DNO International ASA - Update on the notice from KRG dated 21
September 2009
(Thomson Reuters ONE) - ("DNO" or "the Company")Reference is made to the Stock Exchange Notice dated 21 September2009 in relation with the Notice from Kurdistan Regional Government(KRG).The Notice dated 21 September 2009 from KRG is a direct consequenceof Oslo Stock Exchange (OSE) disclosing selective confidentialinformation to the media, which is causing the media to publishspeculative, misleading and incorrect information. This, according tothe KRG Notice, is causing unjustifiable and incalculable harm to thereputation of the KRG and the Minister of Natural Resources. Dr.Ashti A Hawrami.Furthermore, OSE had no rights to disclose confidential informationrelating to a foreign authority and one of its officials, withoutconsulting or advising the relevant Norwegian authorities or the KRGitself.The Board of DNO has submitted a letter to the Board of OSErequesting that the suspension of trading the DNO shares must bemaintained for a few more days until the situation caused by thenotice from KRG is resolved. Until then the pricing of the shareswill be difficult and could lead to unpredictable price variations.Despite such request from DNO and the fact that the Notice from KRGis caused by the wrongful doings by OSE, the suspension of tradingthe DNO shares has been lifted by OSE.DNO is now in discussions with KRG with to resolve the situation assoon as possible. According to the KRG Notice, the full rights to thePSC will be reinstated once this has been achieved.DNO is preparing for legal actions against OSE for damages as aresult of willful breach of confidentiality, and the Company expectsto submit a letter to OSE during the next few days.The Board of Directors in DNO will now investigate strategic optionsincluding moving the listing of the Company's shares to anotherexchange. Such alternative listing may be the whole Company oralternatively the Subsidiary holding the licenses within theKurdistan Region.The content of this Stock Exchange Notice is without prejudice.DNO International ASA24 September, 2009Contact:Media:Helge Eide, MD DNO International ASA Telephone: +47 23 23 84 80Ketil Jørgensen, Crux Communication Telephone +47 930 36 866(Norway)Ben Willey, Buchanan Communications Telephone: +44 207 466 5000(UK)Investor Relations:Haakon Sandborg, CFO DNO International Telephone: +47 23 23 84 80ASAThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 24.09.2009 - 08:33 Uhr
Sprache: Deutsch
News-ID 6165
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September 2009"
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