Panoro Energy ASA

AGM Information • Nov 29, 2018

Minutes from the Extraordinary General Meeting

Minutes from the Extraordinary General Meeting

Oslo, 29 November 2018 - Panoro Energy ASA (the "Company" with OSE Ticker: PEN)

announces that the Extraordinary General Meeting (EGM) in the Company was held

today at the Company's registered office. All items on the agenda for the EGM

were adopted as proposed by the Board of Directors including to issue new equity

shares pursuant to the recently announced Private Placement and Subsequent

Offering. The Board was also given the authority to cancel the Subsequent

Offering should prevailing market conditions so dictate. Should the Subsequent

Offering be commenced shareholders as per 6 November 2018 as registered with the

VPS on 8 November 2018 will receive 0.08489 subscription rights for each share

owned in the Company.

The minutes of the EGM are attached to this announcement and also available on

the Company's website at the following

link (http://www.panoroenergy.com/investors/general-meetings/).

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 in Africa, 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.