Oslo, 30 June 2022: Reference is made to previous stock exchange releases by
PetroNor E&P ASA ("PetroNor") regarding the acquisition of Panoro Energy ASA's
("Panoro") interest in Offshore Mining Lease no. 113 ("OML 113") offshore
Nigeria, containing the Aje oil and gas field, and the transfer of OML 113 to
Aje Production AS. 

PetroNor and Panoro have been working diligently to complete the transaction and
have made good progress. Most CP's have been satisfied or waived and the
companies are initiating the final steps towards completion. 

PetroNor expects conclusion of the outstanding matters and the subsequent
closing with Panoro to commence within 14 days. As a consequence, Panoro and
PetroNor have agreed to extend the long stop date under the SPA from 30 June
2022 to 15 July 2022.  

This announcement is subject to disclosure pursuant to section 5-12 of the
Norwegian Securities Trading Act.

For further information, please contact:
Investor Relations 
Email: ir@petronorep.com

About PetroNor E&P ASA
PetroNor E&P ASA is an Africa-focused independent oil and gas exploration and
production company listed on Oslo Børs with the ticker PNOR. PetroNor E&P ASA
holds exploration and production assets offshore West Africa, specifically the
PNGF Sud licenses in Congo Brazzaville, the A4 license in The Gambia, the Sinapa
(Block 2) and Esperança (Blocks 4A and 5A) licenses in Guinea-Bissau, the
Rufisque Offshore Profond and Senegal Offshore Sud Profond in Senegal (in
arbitration) and OML-113 in Nigeria (subject to completion).