Panoro Energy ASA

Share Issue/Capital Change • Apr 8, 2016

Panoro Energy ASA: Subsequent Offering - Registration of New Share Capital

Panoro Energy ASA: Subsequent Offering - Registration of New Share Capital

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE

SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN,

OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES. THIS ANNOUNCEMENT DOES NOT

CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to previous stock exchange announcements from Panoro Energy

ASA ("Panoro" or the "Company", ticker "PEN") concerning the subsequent offering

of up to NOK 10 million (the "Subsequent Offering"), latest on 1 April 2016. The

share capital increase pertaining to the Subsequent Offering has now been

registered with the Norwegian Register of Business Enterprises. The shares

issued in the Subsequent Offering will be listed and delivered on or about 11

April 2016. Following registration, the total number of issued shares in the

Company is now 425,021,952.

Oslo, Norway

Panoro Energy ASA

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

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

offshore southern Gabon, and OML 113 offshore western Nigeria. Both assets have

discoveries with approved Field Development Plans. In addition to discovered

hydrocarbon resources and reserves, both assets also hold significant

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

www.panoroenergy.com.