Panoro Energy ASA

Mandatory Notification of Trades

Management buys shares in Panoro Energy ASA

Oslo, 26 November 2018 - Panoro Energy ASA (the "Company" or "Panoro" with OSE

Ticker: PEN) announces that in addition to subscription for shares in recent

Private Placement announced on 6 November 2018, the following primary insiders

have today purchased additional shares in the Company:

John Hamilton, CEO: 3,800 shares at NOK 13.40 each. After the transaction and

including the shares allocated in Private Placement, Mr. Hamilton owns 167,912

shares and has 362,972 Restricted Share Units in the Company, which entitles him

to 362,972 shares in the Company.

Qazi Qadeer, CFO: 2,500 shares at NOK 13.40 each. After the transaction and

including the shares allocated in Private Placement, Mr. Qadeer owns 77,062

shares and has 146,335 Restricted Share Units in the Company, which entitles him

to 146,335 shares in the Company.

Richard Morton, Technical Director: 3,800 shares at NOK 13.40 each. After the

transaction and including the shares allocated in Private Placement, Mr. Morton

owns 122,425 shares and has 129,669 Restricted Share Units in the Company, which

entitles him to 129,669 shares in the Company.

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

-12 and section 4-2 of the Norwegian Securities Trading Act.

Enquiries

Panoro Energy ASA +44 203 405 1060

Qazi Qadeer, Chief Financial Officer [email protected]

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 Sfax

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

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

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