Panoro Energy ASA

Board/Management Information • Sep 7, 2020

Panoro Energy Announces Additions to Tunisian Team

Panoro Energy Announces Additions to Tunisian Team

Oslo, 07 September 2020 - Panoro Energy (the "Company" or "Panoro" with OSE

ticker: "PEN") is pleased to announce the appointment of two senior managers for

secondment to TPS in Tunisia.

In Tunisia, Panoro has the right to provide two senior members of staff into

TPS, the jointly owned operating company with Entreprise Tunisienne d'Activites

Petrolieres ("ETAP"). Panoro has appointed Maximilian Fellner as Deputy General

Manager and Elizabeth Loudon as Development Manager.  Both, Max and Elizabeth

have extensive experience in oil and gas operations and have lived and worked in

North Africa in prior assignments. Previous employers have included RWE, OMV,

Petrom, BG, Anadarko, and Tullow. Both have now relocated full-time to the city

of Sfax, where the TPS assets are located and managed. As a result of this

corporate reorganisation Mongi Azouz, who has been acting as Deputy General

Manager at TPS on an interim basis for almost two years, has returned to his

role as President of Panoro Tunisia. Mongi Azouz will continue working from

Tunis alongside our General Manager for Tunisia Sofiene Gaied.

John Hamilton, CEO of Panoro, commented: "We warmly welcome Max and Elizabeth to

Panoro. We believe that they bring very complementary sets of skills. We look

forward to the TPS secondees working closely with our esteemed partner ETAP to

realise the true potential of the TPS assets. Panoro is focussed on increasing

production at TPS and investing capital in our Tunisian asset base. On behalf of

Panoro, I would like to thank Mongi Azouz for his hard work and his huge

contribution as TPS Deputy General Manager and look forward to his continued

support from Tunis."

Maximilian (Max) Fellner, Deputy GM TPS, has over 30 years experience focusing

on onshore and offshore oil & gas field developments and redevelopments in

Austria, Germany, Libya, Pakistan, Romania, Kazakhstan and Egypt. His experience

covers the full E&P life cycle from field appraisal to field development and

production including the commercial and contractual aspects for more than 10

field development projects. His most recent roles were as Chief Operating

Officer of Hashoo Energy in Pakistan, as Country Manager RWE Dea Egypt, as GM &

MD of Suez Oil Company in Egypt, as Asset Development Manager and Member of the

Board of Directors of Petrom Kazakhstan, as Director Portfolio Management in

Petrom Romania and as Asset Manager of the Sawan and Miano Developments in

Pakistan. Max holds a BSc in Technical Chemistry, a BSc and MSc degree in

Petroleum Engineering and an MBA degree.

Elizabeth Loudon, Development Manager TPS, has 27 years' experience in the oil

and gas industry predominantly in North and Sub-Saharan Africa; Algeria, Egypt,

Ghana, South Africa, Botswana and Mozambique. Her roles primarily focused on

Technical / Project management in the Exploration, Development and Operational

phases with significant exposure to strategic, commercial and economic matters.

Elizabeth started her career as a reservoir engineer for BG Group which included

a secondment to Egypt, before progressing to Reservoir Engineering Manager for

Anadarko's Assets in Algeria, Project Manager for Sasol's 2010 Drilling Campaign

in Mozambique, Project Manager for Sasol's first Coalbed Methane project in

Botswana, Subsurface Manager for Tullow's assets in Ghana and Technical Manager

M&A (Tullow). Elizabeth holds a BEng in Electro-Mechanical Engineering and an

MSc in Petroleum Engineering from Imperial College.

Enquiries

Qazi Qadeer, Chief Financial Officer

Tel:     +44 203 405 1060

Email: investors@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, exploration and development assets in Africa, namely the Dussafu

License offshore southern Gabon, OML 113 offshore western Nigeria, and the TPS

operated assets, Sfax Offshore Exploration Permit and Ras El Besh Concession,

offshore Tunisia.

For more information visit the Company's website at www.panoroenergy.com.