DNO Offered New Licenses Offshore Norway

DNO has been offered two new Operatorships and two new participating interests on the Norwegian Continental Shelf.

The license award related to predefined areas ("TFO 2004") was announced by the Norwegian Ministry of Energy and Oil January 29, 2004.

DNO is very pleased with the results of the award, which will further strengthen the company's position on the Norwegian Continental Shelf.

Managing Director Helge Eide comments:

"The successful outcome of this license award shall be credited our organization in Norway. This also demonstrates that the restructuring of DNO has been successful and has strengthened our competence and capacity as Operator and active participant in Norway."

DNO has also signed a Production Sharing Agreement for Block 6 onshore Syria for a minority participating interest with an initial exploration commitment to DNO of about 1 million USD. The agreement is subject to ratification by the Syrian authorities.