PetroNor E&P ASA

Earnings Release • Apr 25, 2022

PetroNor E&P ASA: Production established from first Litanzi infill wells

PetroNor E&P ASA: Production established from first Litanzi infill wells

Oslo, 25 April 2022: PetroNor E&P ASA ("PetroNor" or the "Company") today provides an update on first production from the Litanzi infill drilling program in Congo.

PetroNor holds an indirect ownership interest of 16.83 per cent in PNGF Sud in Congo, which is the Company’s core production licence.

Two wells of the initial Litanzi infill wells have been put on production; well #1 (injector) is flowing for a cleanup period producing some oil and mostly water as expected, Well #2 (producer) was put on production on April 14th and has produced above expectation for the first 8 days with an average 3,368 bopd, raising the average gross PNGF production to approximately 25,000 bopd for the period (4,207 bopd net).

The third well has been drilled to planned total depth (TD) and the Operator is currently preparing for running open hole logs. The infill drilling program on PNGF Sud commenced in November 2021 with the spudding of the first of four wells on Litanzi as part of a total drilling program of 17 infill and development wells across four fields in the licence area.

For additional information, please contact:

Investor Relations Email:

ir@petronorep.com

www.petronorep.com

About PetroNor E&P ASA

PetroNor E&P ASA is an Africa-focused independent oil and gas exploration and production company listed on Oslo Børs with the ticker PNOR. PetroNor E&P ASA holds exploration and production assets offshore West Africa, specifically the PNGF Sud licenses in Congo Brazzaville, the A4 license in The Gambia, the Sinapa (Block 2) and Esperança (Blocks 4A and 5A) licenses in Guinea-Bissau, the Rufisque Offshore Profond and Senegal Offshore Sud Profond in Senegal (in arbitration) and OML-113 in Nigeria (subject to completion).