Panoro Energy ASA - M&A Activity 2021

Extension of Long Stop Date for Sale of Aje

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

Ticker: "PEN") and PetroNor E&P Limited ("PetroNor") have reached an agreement

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 October 2021.

The regulatory approval process in Nigeria is well underway and expected to

conclude soon. An 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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