Panoro Energy - Crude Oil Lifting Update

20 Sep 2023 07:30 CEST

Oslo, 20 September 2023 - Panoro Energy ASA ("Panoro" or the "Company") today
provides an update on its 2023 crude oil liftings.

The Company has completed its scheduled September lifting of approximately
650,000 barrels in Equatorial Guinea at a realised price of approximately USD
92.25 per barrel, subject to final reconciliation and after customary price
adjustment and associated fees.

This follows aggregate liftings of 524,296 barrels in Gabon and Tunisia earlier
in Q3, which brings the total volume lifted by Panoro in Q3 to approximately
1,174,296 barrels at an average realised price of approximately USD 88 per
barrel.

As a result, year-to-date crude liftings are approximately 2,010,046 barrels at
an average realised price of approximately USD 82.79 per barrel.

The Company expects to lift approximately 965,000 barrels during Q4 in Gabon and
Tunisia, which includes a lifting of 380,000 barrels in Gabon previously assumed
to occur in the last week of September which is now scheduled for early October.

Full year 2023 crude oil liftings are expected to total approximately 3 million
barrels, unchanged from guidance.

Enquiries

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

About Panoro Energy

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
interests in offshore exploration Block 2B and onshore Technical Co-operation
Permit 218 in South Africa.

Visit us at www.panoroenergy.com.

Follow us on LinkedIn (https://www.linkedin.com/company/panoro-energy)

More information:
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599844_Panoro_Energy_Crude_Oil_Lifting_Update.pdf