Panoro Energy ASA

Regulatory Filings • Jul 3, 2024

Panoro Energy – Drilling Program to Recommence in Equatorial Guinea With the Arrival of Noble Venturer Drill Ship

Oslo, 3 July 2024 – Panoro Energy ASA ("Panoro" or the "Company") notes the announcement by Trident Energy, the operator of Block G offshore Equatorial Guinea, confirming the arrival of the Noble Venturer drill ship at Luba port, Bioko Island.

The drilling campaign, which is expected to recommence shortly, will comprise of two infill wells located in water depths of 250 metres and 740 metres, before moving to the adjacent Block S to drill the Kosmos Energy operated Akeng Deep infrastructure led exploration well.

The contract was awarded to Noble Corporation for its Noble Venturer drill ship in April 2024 by Trident Energy on behalf of the joint venture partners including Panoro, Kosmos Energy and GEPetrol.

Panoro has a 14.25 per cent participating interest in Block G which holds the producing Cebia Field and Okume Complex and a 12 per cent participating interest in Block S.

John Hamilton, CEO of Panoro, commented:

"We are pleased to receive the high specification Noble Venturer drill ship in country and look forward to recommencing the infill drilling campaign at Block G which will be followed by the high impact Akeng Deep infrastructure led exploration well which, if successful, can open a new play fairway with a potentially very positive read across to the adjacent Block EG-01 which Panoro operates."

Enquiries

Qazi Qadeer, Chief Financial Officer Tel: +44 203 405 1060 Email: investors@panoroenergy.com

About Panoro

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 interests in Block-G, Block S and Block EG-01 offshore Equatorial Guinea, the Dussafu Marin License offshore southern Gabon, the TPS operated assets, Sfax Offshore Exploration Permit and Ras El Besh Concession, offshore Tunisia, and onshore Technical Cooperation Permit 218 in South Africa.

Visit us at www.panoroenergy.com.

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