PetroNor E&P ASA

Earnings Release • Sep 10, 2021

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

Operational Update – PNGF Sud

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 operational update with regard to its activities at PNGF Sud, Congo Brazzaville, where the Company holds 16.83% net indirect interest through its ownership in Hemla E&P Congo SA ("HEPCO").

Further to the information contained within the Q2 Report on 31 August, and to further detail PNGF SUD has now returned to pre-summer production levels as a result of recently completed remedial work. Daily current gross production from the field averaged ~21,277 barrels of oil so far in September and reached 22,477 barrels of oil yesterday (corresponding to ~3,780 barrels net to PetroNor's interest in the asset).

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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).