Panoro Energy ASA

Remuneration Information • Jun 7, 2016

PANORO ENERGY ASA: NOTIFICATION OF TRADES

PANORO ENERGY ASA: NOTIFICATION OF TRADES

INSIDERS GRANTED RESTRICTED SHARE UNITS IN THE COMPANY

Oslo, 07 June 2016 - Panoro Energy ASA ("the Company" or "Panoro" with OSE

Ticker: PEN) announces that the Board of Directors, for the year 2015, have

granted 200,000 Restricted Share Units ("RSUs") to the key employees of the

Company under the long term incentive compensation plan approved by the

shareholders.

One Restricted Share Unit ("RSU") will entitle the holder to receive one share

of capital stock of the Company against payment in cash of the par value for the

share. The par value is currently NOK 0.05 per share. Vesting of the RSUs is

time based. The standard vesting period is 3 years, where 1/3 of the RSUs vest

after one year, 1/3 vest after 2 years, and the final 1/3 vest after 3 years

from grant. RSUs vest automatically at the respective vesting dates and the

holder will be issued the applicable number of shares as soon as possible

thereafter.

Of the 200,000 RSUs, the primary insiders have been granted the following:

· John Hamilton, the CEO of the Company has been granted 100,000 RSUs. After

this transaction, Mr. Hamilton is entitled to 100,000 RSUs. He also owns 48,801

shares and has no options in the Company.

· Qazi Qadeer, the CFO of the Company has been granted 50,000 RSUs. After this

transaction, Mr. Qadeer is entitled to 50,000 RSUs. He also owns 20,350 shares

and has 33,334 options in the Company.

· Richard Morton, the Technical Director of the Company has been granted

40,000 RSUs. After this transaction, Mr. Morton is entitled to 40,000 RSUs. He

also owns 15,414 shares and has 58,334 options in the Company.

· Laurence Keech, the Financial Controller of the Company has been granted

10,000 RSUs. After this transaction, Mr. Keech is entitled to 10,000 RSUs. He

also owns 1,255 shares and has 16,667 options in the Company.

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

Panoro Energy ASA,

For more information please contact:

Qazi Qadeer

Chief Financial Officer

+44 203 405 1060

info@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, development, and exploration assets in West Africa, namely OML 113

offshore western Nigeria and the Dussafu License offshore southern Gabon. 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.