Panoro Energy ASA

Panoro Energy: First post-acquisition crude oil lifting from Tunisia

Oslo, 11 March 2019 - Panoro Energy ASA (the "Company" or "Panoro" with OSE

ticker: "PEN") is pleased to provide an update on lifting operations in Tunisia.

The first cargo of approximately 151,000 barrels of Rhemoura blend crude oil has

been lifted from La Skhirra Terminal in Tunisia on 6 March 2019. The lifting

operations were completed successfully and without any delays or incidents. The

pricing for this cargo was based on Rhemoura blend which is at a modest discount

to Dated Brent in line with the differentials achieved in the recent past.

Panoro's net participation in this lifting is 60%.

In addition, approximately 40,000 barrels of crude oil, net to Panoro, is

expected to be lifted from the Aje field, offshore Nigeria, in March 2019.

Enquiries

Qazi Qadeer, Chief Financial Officer

Tel: +44 203 405 1060

About Panoro's Operations in Tunisia

Panoro's equity participation in Tunisian operations is in partnership with

Beender Tunisia Petroleum Limited ("Beender") whereby, Panoro effectively owns

60% and Beender the remaining 40%.

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 in Africa, namely the Dussafu

License offshore southern Gabon, OML 113 offshore western Nigeria, and the TPS

operated assets, Sfax Offshore Exploration Permit and Ras El Besh Concession,

offshore Tunisia.

For more information visit the Company's website at www.panoroenergy.com.

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