Panoro Energy ASA

Panoro Energy - October Crude Lifting

Oslo, 24 October 2022 - Panoro Energy ASA ("Panoro" or the "Company") today

provides an update on its October crude oil lifting schedule.

The Company has completed its scheduled October lifting of 647,111 barrels in

Gabon at a realized price of USD 91.54 per barrel, after customary price

adjustment and associated fees, resulting in proceeds to the Company of

approximately USD 59.2 million.

This lifting brings the aggregate volume of crude oil lifted by Panoro year-to

-date to 1,671,232 barrels at an average realized price of USD 100.50 per

barrel.

In line with IFRS standard accounting treatment the Company recognizes revenue

when liftings of its crude oil entitlement occur.

Enquiries

Qazi Qadeer, Chief Financial Officer

Tel: +44 203 405 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 a producing interest in Block-G, offshore Equatorial Guinea, the Dussafu

License offshore southern Gabon, the TPS operated assets, Sfax Offshore

Exploration Permit and Ras El Besh Concession, offshore Tunisia and

participation interest in an exploration Block 2B, offshore South Africa.

Visit us at www.panoroenergy.com.

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