Panoro Energy ASA - AGM Information 2021

Panoro Energy: Minutes from the Extraordinary General Meeting - Subsequent Offering

Oslo, 3 March 2021 - Panoro Energy ASA (the "Company" with OSE Ticker: PEN)

announces that the Extraordinary General Meeting (EGM) in the Company was held

today at the Company's registered office. All items on the agenda for the EGM

were adopted as proposed by the Board of Directors including to issue new equity

shares pursuant to the recently announced Private Placement and Subsequent

Offering.

The Board was also given the authority to cancel the Subsequent Offering should

prevailing market conditions so dictate. Should the Subsequent Offering be

commenced, shareholders as per 9 February 2021 as registered with the VPS on 11

February 2021 who are eligible to participate (as defined in the prospectus to

be published by the Company) will receive 0.171143 subscription rights for each

share owned in the Company.

The minutes of the EGM are attached to this announcement and also available on

the Company's website at the following

link (https://mb.cision.com/Public/399/3299364/af89f1dc6025f39e.pdf).

Enquiries

For further information, please contact:

Qazi Qadeer, Chief Financial Offcer

Tel: +44 (0) 203 405 1060

About Panoro Energy

Panoro Energy ASA is an independent exploration and production company based in

London and listed on the main board of the Oslo Stock Exchange with the ticker

PEN. Panoro holds production, exploration and development assets in Africa,

namely the Dussafu License offshore southern Gabon, OML 113 offshore western

Nigeria (held-for-sale, subject to completion), and the TPS operated assets,

Sfax Offshore Exploration Permit and Ras El Besh Concession, offshore Tunisia.

Subject to completion of certain conditions, Panoro has also farmed-into an

exploration Block 2B, offshore South Africa.

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