Panoro Energy ASA

Panoro Energy Announces Leadership Transition Update and Appointment of a New CEO

May 13, 2015, Panoro Energy ASA (TICKER: PEN - Oslo) ("Panoro" or the "Company")

today announces the appointment of John Hamilton to the position of Chief

Executive Officer ("CEO"). John has extensive experience in the international

oil and gas industry and in investment banking. John will take up his new

position immediately. John is a UK citizen and will be based in London.

Previously John Hamilton held numerous senior positions at leading publicly

listed oil and gas companies. These include CEO of London listed President

Energy PLC (2012-2014), Non-Executive Director of London listed IGas PLC (2009

-2012), Chief Financial Officer of FTSE 250 Imperial Energy PLC (2007-2008),

until its sale for over US$ 2 billion. In addition, John has extensive financial

experience across the oil and industry, as Managing Director at Levine Capital

Management (2009-2012), an oil and gas equity fund. John also spent 15 years at

ABN AMRO Bank as an investment banker, working in Europe, Africa and the Middle

East.

Nishant Dighe, presently interim CEO, will continue as President and Chief

Operating Officer.

Julien Balkany, Chairman of the Board said, "We welcome John to Panoro. We

believe that John brings a very complementary set of skills and experiences to

strengthen the Company and deliver value to our shareholders. On behalf of the

Board I would like to thank Nish for his hard work and valuable contributions

during this period of transition."

For further information about this press release please contact:

Julien Balkany, Chairman

Tel: +44 203 405 1065

About Panoro

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

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