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Panoro Energy ASA

Share Issue/Capital Change Sep 8, 2015

3706_rns_2015-09-08_eb566ebb-2cb0-4f13-b35d-59338ab63932.html

Share Issue/Capital Change

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REGISTERED SHARE CAPITAL REDUCTION

REGISTERED SHARE CAPITAL REDUCTION

The share capital reduction as approved by the 2015 Annual General Meeting has

been registered as completed with the Register of Business Enterprises.

Following completion of the share capital reduction, the registered share

capital of Panoro Energy ASA is NOK 1,172,728.93, divided into 234,545,786

shares, each having a par value of NOK 0.005. Please also note that Panoro

Energy ASA's new registered business address in Oslo is c/o Michelet & Co

Advokatfirma AS, Grundingen 3, 0250 Oslo.

For further information, please contact:

Qazi Qadeer, Chief Financial Officer

Tel: +44 203 405 1084

email: [email protected]

About Panoro

Panoro Energy ASA is an independent E&P company based in London and listed on

the Oslo Stock Exchange with ticker PEN. The Company holds high quality

exploration and development assets in West Africa, namely the Dussafu License

offshore southern Gabon, and OML 113 offshore western Nigeria. Both assets have

discoveries with approved Field Development Plans. In addition to discovered

hydrocarbon resources and reserves, both assets also hold significant

exploration potential. For more information visit the Company's website

at www.panoroenergy.com.

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