Petrolia Seeks to Block DNO, RAK Merger

DNO International ASA has been notified that Petrolia Invest AS and Erik J. Frydenbø have filed a request for an injunction with the Oslo District Court seeking to block the completion of the merger with RAK Petroleum PCL's MENA operating subsidiaries.

The Company sees the request for injunction as another frivolous attack on, and attempt to interfere with, the merger by the former chairman, Berge Gerdt Larsen, his associates and his advisors. It falls in line with, and is seen as a continuation of efforts by the same parties to interfere with the merger prior to the extraordinary general meeting by means of a campaign of disinformation and factual distortion.

DNO is of the clear view that the request is completely without merit and will vigorously defend against it. The merger was adopted by a strong majority at the extraordinary general meeting on 1 November 2011, and the merger is expected to be completed in January 2012.

 

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