Oslo, 27 July 2022 - Panoro Energy ASA ("Panoro" or the "Company") with OSE
Ticker: ("PEN") makes reference to its recent announcement regarding completion
of the sale of its fully owned subsidiaries Pan-Petroleum Services Holding BV
and Pan-Petroleum Nigeria Holding BV (together referred to as "Divested
Subsidiaries" and which together hold 100% of the shares in Pan-Petroleum Aje
Limited) to PetroNor E&P ASA ("PetroNor" - OSE Ticker: "PNOR") for an upfront
consideration of USD 10 million to be settled in the form of PetroNor shares
("Consideration Shares") and today's stock exchange announcement by Panoro
Energy ASA that such shares have been issued.

The Company is pleased to confirm receipt of the Consideration Shares. Following
such receipt of shares, Panoro Energy ASA today, 27 July 2022, owns 96,577,537
shares in PetroNor E&P ASA, which represents 6.78% of all issued and outstanding
shares and votes in PetroNor. Consequently, the threshold of 5% holding of
shares and votes has been exceeded. 
This announcement is made pursuant to the Continuing Obligations of Euronext
Oslo Børs.

Enquiries
Qazi Qadeer, Chief Financial Officer
Tel:     +44 203 405 1060
Email: investors@panoroenergy.com

About Panoro Energy
Panoro Energy ASA is an independent exploration and production company based in
London and listed on the main board of the Oslo Stock Exchange with the ticker
PEN. Panoro holds production, exploration and development assets in Africa,
namely a producing interest in Block-G, offshore Equatorial Guinea, the Dussafu
License offshore southern Gabon, the TPS operated assets, Sfax Offshore
Exploration Permit and Ras El Besh Concession, offshore Tunisia and
participation interest in an exploration Block 2B, offshore South Africa.

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