Panoro Energy ASA

Director's Dealing • May 29, 2020

Director buys shares in Panoro Energy ASA

Mandatory notification of trade primary insiders

Oslo, 29 May 2020 - Panoro Energy ASA (the "Company" or "Panoro" with OSE Ticker: PEN) announces that Hilde Ådland, Non-Executive Director of the Company, has today purchased 10,000 shares at NOK 9.0027 each. After the transaction, Ms. Ådland owns 19,097 shares in the Company.

This information is subject to the disclosure requirements pursuant to section 5 -12 and section 4-2 of the Norwegian Securities TradingAct.

Enquiries

Panoro Energy ASA +44 203 405 1060 Qazi Qadeer, Chief Financial Officer investors@panoroenergy.com

About Panoro Energy

Panoro Energy ASA is an independent E&P company based in London and listed on the Oslo Stock Exchange with ticker PEN. The Company holds high quality production, exploration and development assets inAfrica, namely the Dussafu License offshore southern Gabon, OML 113 offshore western Nigeria and Sfax Offshore Exploration Permit and Ras El Besh Concession, offshore Tunisia. For more information, please visit the Company's website at www.panoroenergy.com.