Panoro Energy ASA

Panoro Energy - Drilling Program to Recommence in Equatorial Guinea With the Arrival of Noble Venturer Drill Ship

Oslo, 3 July 2024 - Panoro Energy ASA ("Panoro" or the "Company") notes the

announcement by Trident Energy, the operator of Block G offshore Equatorial

Guinea, confirming the arrival of the Noble Venturer drill ship at Luba port,

Bioko Island.

The drilling campaign, which is expected to recommence shortly, will comprise of

two infill wells located in water depths of 250 metres and 740 metres, before

moving to the adjacent Block S to drill the Kosmos Energy operated Akeng Deep

infrastructure led exploration well.

The contract was awarded to Noble Corporation for its Noble Venturer drill ship

in April 2024 by Trident Energy on behalf of the joint venture partners

including Panoro, Kosmos Energy and GEPetrol.

Panoro has a 14.25 per cent participating interest in Block G which holds the

producing Cebia Field and Okume Complex and a 12 per cent participating interest

in Block S.

John Hamilton, CEO of Panoro, commented:

"We are pleased to receive the high specification Noble Venturer drill ship in

country and look forward to recommencing the infill drilling campaign at Block G

which will be followed by the high impact Akeng Deep infrastructure led

exploration well which, if successful, can open a new play fairway with a

potentially very positive read across to the adjacent Block EG-01 which Panoro

operates."

Enquiries

Qazi Qadeer, Chief Financial Officer

Tel: +44 203 405 1060

About Panoro

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 interests in Block-G, Block S and Block EG-01 offshore Equatorial Guinea,

the Dussafu Marin License offshore southern Gabon, the TPS operated assets, Sfax

Offshore Exploration Permit and Ras El Besh Concession, offshore Tunisia, and

onshore Technical Co-operation Permit 218 in South Africa.

Visit us at www.panoroenergy.com.

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