Oslo, 6 February 2023 - DNO ASA, the Norwegian oil and gas operator, today
reported the below transactions made under the Company's share buyback program,
which commenced 9 December 2022 and will end no later than 30 April 2023. For
further information regarding the program, please see the Company's stock
exchange notification from 8 December 2022.

Overview of transactions:

+------------------------------------------------------------------------------+
|                        Aggregate daily   Weighted average                    |
|Date                   volume (number of    share price     Total transaction |
|                            shares)            (NOK)           value (NOK)    |
+------------------------------------------------------------------------------+
|30.1.2023                   685,000           12.5692           8,609,902     |
|                                                                              |
|31.1.2023                   680,000           12.2055           8,299,740     |
|                                                                              |
|1.2.2023                    670,000           12.2890           8,233,630     |
|                                                                              |
|2.2.2023                    640,000           12.1039           7,746,496     |
|                                                                              |
|3.2.2023                    660,000           12.0746           7,969,236     |
+------------------------------------------------------------------------------+
|                                                                              |
+------------------------------------------------------------------------------+
|Previously disclosed                                                          |
|buyback under the                                                             |
|Program (accumulated)      24,177,348         12.2426          295,994,732    |
+------------------------------------------------------------------------------+
|                                                                              |
+------------------------------------------------------------------------------+
|Accumulated buyback                                                           |
|under the Program          27,512,348         12.2437          336,853,736    |
+------------------------------------------------------------------------------+

Following the above transactions, the Company owns a total of 53,781,531 own
shares, corresponding to 5.10 percent of its share capital.

An overview of all the completed transactions under the program for the dates
specified above is attached to this notification and available on
www.newsweb.no.

-

For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no

-

DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North
Sea and West 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, Norway,
the United Kingdom, Côte d'Ivoire, Netherlands and Yemen.

This information is subject to the disclosure requirements pursuant to §5-12 of
the Norwegian Securities Trading Act and the EU Market Abuse Regulation.