Panoro Energy ASA - M&A Activity 2021

Panoro Energy: Extension of Long Stop Date for Sale of Aje

Oslo, 30 November 2021 - Panoro Energy ASA ("Panoro" or the "Company") with OSE

Ticker: "PEN") and PetroNor E&P Limited ("PetroNor") have agreed to extend the

completion long stop date for the previously announced sale of its fully-owned

subsidiaries that hold 100% of the shares in Pan Petroleum Aje Limited ("Pan

Aje") ("the Transaction").

The amended long stop date to complete the Transaction is now 31 December 2021

to make allowance for the process of obtaining statutory government approvals

taking longer than expected.

A further announcement will be made once the necessary regulatory approvals are

in place.

This announcement is subject to disclosure pursuant to section 5-12 of the

Norwegian Securities Trading Act.

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, OML 113 offshore western Nigeria (held-for

-sale, subject to completion), 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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