Panoro Energy ASA

AGM Information • Feb 10, 2016

Notice of Extraordinary General Meeting

Oslo Børs Announcement

The Board of Directors (the "Board") hereby calls for an Extraordinary General Meeting (the "EGM") to be held in Panoro Energy ASA (the "Company") on 2 March 2016 at 2pm Norwegian time at Continental Hotel, Stortingsgaten 24 / 26, 0161 Oslo, Norway.

Agenda:

• 1. Opening by the Chairman of the Board Registration of attending shareholders
• 1. Election of person to chair the meeting
• 1. Election of one person to co-sign the minutes
• 1. Approval of the calling notice and the agenda for the meeting
• 1. Approval of Private Placement
• 1. Approval of Subsequent Share issue
• 1. Election of new Board member
• 1. Closing

Please find enclosed notice of the EGM, enclosures and registration/proxy form.

For further information, please contact:

John Hamilton, Chief Executive Officer Qazi Qadeer, Chief Financial Officer Tel: +44 203 405 1080

Email: 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 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.