Panoro Energy ASA

Panoro Energy ASA Final result of Tender Offer

Oslo, 11 August 2017 - Reference is made to the stock exchange notice made by

Panoro Energy ASA ("Panoro" or the "Company" with OSE Ticker: "PEN") on 9 August

2017 and subsequent updates on 10 and 11 August 2017.

Panoro has resolved to buy back 1,000,000 shares as set out in the Offer.

Allocation of the acceptances will be done in accordance with criteria based on

best market practice and equal treatment of shareholders. Acceptances received

exceeded the 1,000,000 shares limit of the Offer.

Allocations will be made before 09:00 (CET) on 14 August 2017. Settlement will

take place on or about 16 August 2017.

Following this transaction, Panoro holds a total of 1,000,000 own shares,

representing 2.35% of the total issued share capital.

Arctic Securities AS acted as receiving agent in connection with the Offer.

The ongoing share buyback program will continue to be carried out in accordance

with applicable laws and regulations, in open market transactions or through

additional tenders, at the discretion of management based on, among other

things, the Company's ongoing capital requirements and the market price of its

common share.

This information is subject to the disclosure requirements according to section

5-12 of the Norwegian Securities Trading Act.

Enquiries:

Panoro Energy ASA

Tel: +44 203 405 1060

Arctic Securities AS

Tel: +47 21 01 30 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 production,

exploration and development assets in West Africa, namely the Dussafu License

offshore southern Gabon and OML 113 offshore western Nigeria. In addition to

discovered hydrocarbon resources and reserves, both assets also hold significant

exploration potential. For more information, please visit the Company's website

at www.panoroenergy.com.

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