Panoro Energy ASA

PANORO ENERGY - REGISTRATION OF NEW SHARES

Oslo, 06 December 2018 - Panoro Energy ASA ("Panoro" or the "Company") is

pleased to announce that the Register of Business Enterprises has today

registered the increase of share capital to include the issue of Private

Placement shares announced on 07 November 2018. The Company's new registered

share capital is NOK 3,119,380 divided into 62,387,600 shares, each having face

value of NOK 0.05. The shares issued today will be registered with a temporary

ISIN NO 0010839012 which is separate from the Company's ordinary ISIN. The

shares are not listed nor tradable on Oslo Børs until a prospectus has been

approved by the Financial Supervisory Authority and published by the Company, at

which time the shares will be transferred from the temporary ISIN to the

Company's ordinary ISIN.

This information is subject to the disclosure requirements pursuant to section 5

-12, section 4-2 and 4-4 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 E&P company based in London and listed on

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

production, exploration and development assets in Africa, namely the Dussafu

License offshore southern Gabon, OML 113 offshore western Nigeria and Sfax

Offshore Exploration Permit and Ras El Besh Concession, offshore Tunisia. For

more information, please visit the Company's website at www.panoroenergy.com.

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