PetroNor E&P ASA

Legal Proceedings Report • Sep 16, 2021

PetroNor E&P Limited ("PetroNor" or the "Company")

Gambia Update

Preliminary Extension of Longstop Date

PetroNor (OSE ticker: "PNOR"), the independent oil and gas exploration and production company with a focus on sub-Saharan Africa, is pleased to provide the following update regarding its A4 license in The Gambia.

As set out in the announcement on 19 September 2020, in which the Company announced a settlement agreement with The Gambia resulting in the reinstatement of the A4 license to PetroNor, the Company had a period of one year, ending 18 September 2021, to process data and progress farm-out discussions. PetroNor today announces that it has received from the Government a thirty (30) day extension to the Longstop date of the Licence. The Company now awaits the Government's response to its request for a full year extension to the Longstop date, which will enable the Company to progress its ongoing discussions with potential partners.

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For further information, please contact: Knut Søvold, Chief Executive Officer Chris Butler, Group Financial Controller info@petronorep.com

Media Contacts:

Buchanan Ben Romney Tel: +44 207 466 5000

About PetroNor E&P

PetroNor E&P Limited is a sub-Saharan focused independent oil and gas exploration and production company listed on Oslo Euronext Expand with the ticker PNOR. PetroNor 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).