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DNO Awarded Block 48 in Yemen

Source: www.gulfoilandgas.com 10/4/2010, Location: Middle East

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Reference is made to the information reported in the media today regarding the award of Block 48 in Yemen to DNO International ASA. The Company can report that DNO has signed a Memorandum of Understanding (MoU) which gives the Company exclusive rights to negotiate a Production Sharing Agreement (PSA) for Block 48. Negotiations aimed at finalizing a PSA for Block 48 between the Company and Yemen authorities will be initiated.

Furthermore, and with reference the previous reports of the entry of Total Exploration E&P Yemen into Block 72, this has now been approved by the Yemen authorities.

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