Not for release, publication or distribution, in whole or in part, in or into
any jurisdiction where to do so would constitute a violation of the relevant
laws of such jurisdiction
Oslo, 21 March 2019 – DNO ASA (“DNO”), the Norwegian oil and gas operator, has
now completed the compulsory acquisition procedure for the remaining shares in
Faroe Petroleum plc (“Faroe”) that was announced on 4 February 2019. The
procedure was carried out pursuant to sections 974-991 of the Companies Act
2006. Following completion of the procedure, DNO has acquired the entire issued
share capital of Faroe (subject to stamping and registration). 
The compulsory acquisition procedure was initiated after DNO had acquired or
received acceptances for over 90 percent of Faroe shares under its final cash
offer for the entire issued and to be issued share capital of Faroe at a price
of 160 pence per share (the “Final Offer”). Following completion of the
procedure, all Faroe shares held by shareholders who had not previously accepted
the Final Offer have been acquired by DNO on the same terms as those of the
Final Offer. The offer procedure has now closed, and DNO owns 100 percent of the
entire issued share capital of Faroe (subject to stamping and registration).
The consideration due to former Faroe shareholders who did not accept the Final
Offer will be held by Faroe as trustee on their behalf. The consideration due
will be transferred to those former Faroe shareholders who write to request to
receive such consideration to Equiniti Limited (“Equiniti”), using the details
set out below, and present satisfactory evidence of their entitlement to such
consideration. What constitutes satisfactory evidence depends on whether the
shares were held in certificated or uncertificated form. Any such requests
should also include information on where the consideration due should be sent.
Equiniti will provide further detailed information on the evidence required and
may be reached by telephone on 0371 384 2030 or +44 121 415 7047 (if calling
from outside the UK), or in writing at Equiniti, Corporate Actions, Aspect
House, Spencer Road, Lancing, West Sussex BN99 6DA. Telephone lines are open
from 8.30 a.m. to 5.30 p.m. (London time) Monday to Friday (excluding English
and Welsh public holidays). Calls from outside the UK will be charged at
applicable international rates. Different charges may apply to calls from mobile
telephones and calls may be recorded and randomly monitored for security and
training purposes. Please note that Equiniti cannot provide advice on the merits
of the Final Offer nor give financial, tax, investment or legal advice.
Enquiries:
DNO ASA			
Media: media@dno.no		
Investors: ir@dno.no
Tel: +47 911 57 197
Brunswick
Patrick Handley				
Charles Pretzlik
William Medvei
Tel: +44 20 7404 5959
Lambert Energy Advisory Limited
Philip Lambert 	 			
David Anderson
Tel: +44 20 7491 4473 			
Pareto Securities AS
Petter Sagfossen
Tel: +47 22 87 87 48

Further information
Defined terms used but not defined in this announcement have the meanings given
in the First Offer Document, as amended and supplemented by the Final Offer
Document unless the context requires otherwise (both available on DNO’s website:
https://www.dno.no/en/investor-relations/offer_announcement_26November).
About DNO 
DNO is a Norwegian oil and gas operator focused on the Middle East and North
Sea. Founded in 1971 and listed on the Oslo Stock Exchange, DNO holds stakes in
onshore and offshore licences at various stages of exploration, development and
production in the Kurdistan region of Iraq, Norway, the UK and Yemen.