Notice of Extraordinary General Meeting

Panoro Energy ASA ("PEN" ticker code OSE) is pleased to invite the

shareholders in the Company to attend an Extraordinary General Meeting

("EGM") scheduled to be held August 12, 2010 at 15:00 Oslo time at

Advokatfirmaet Selmer DA, Tjuvholmen Allé 1, Oslo, Norway.

On the agenda for the EGM are:

1. Opening of the meeting by Chairman of the Board Phil Vingoe,

including the taking of attendance of shareholders present

2. Election of Chairman of the meeting and a person to co-sign the

minutes

3. Approval of notice and agenda

4. Approval of remuneration to the Board of Directors

5. Approval of the statement by the Board regarding remuneration

principles to the management

6. Proposal to authorise the Board of Directors to conduct capital

increases by way of share issue

Please find enclosed notice of EGM, appendices and registration/proxy

form.

For further information please contact:

Jonas Gamre, Investor Relations

Cell: +47 971 18 292

Email:

[email protected] (https://mail.panoroenergy.com/owa/redir.as

px?C=1bcce92e99544d0293636feec5f58c9a&URL=mailto%3ajonas.gamre%40panoroe

nergy.com)

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