Panoro Energy ASA

PANORO ENERGY ASA | MANDATORY NOTICE OF TRADE - PRIMARY INSIDER

Oslo, 25 May 2016 - Reference is made to the stock exchange notice published by

Panoro Energy ASA (the "Company" or "Panoro" with OSE Ticker: PEN) on 25

May 2016 containing the minutes from the 2016 annual general meeting of the

Company.

In accordance with the resolution by the general meeting to increase the share

capital in the Company to facilitate the reverse split of the Company's share

with a ratio of 10:1, the CEO of the Company, John Hamilton, subscribed for 8

new shares in the Company at a subscription price of NOK 0.005 per share.

Following the issuance of the new shares, Mr Hamilton will hold 488,008 shares

in the Company, equal to approximately 0.115% of the total share capital.

Mr Hamilton is a primary insider of the Company.

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

Panoro Energy ASA,

For more information please contact:

Qazi Qadeer

Chief Financial Officer

+44 203 405 1060

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, development, and exploration assets in West Africa, namely OML 113

offshore western Nigeria and the Dussafu License offshore southern Gabon. In

addition to discovered hydrocarbon resources and reserves, both assets also hold

significant exploration potential. For more information, please visit the

Company's website at www.panoroenergy.com.

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