PetroNor E&P ASA: Interim financial report for the quarter ended 30 September 2025

20 Nov 2025 06:30 CET

Oslo, 20 November 2025: In the third quarter, PetroNor delivered stable
production and completed an infill drilling programme that is adding rate during
the fourth quarter. The company achieved a lifting and sale of 540,000 bbls of
entitlement oil in Q4 2025.

Following this sale the company’s balance sheet will be strengthened by an
estimated USD 33 million, which supports the possibility of a 2026 distribution
to shareholders, in line with the strategy focused on maximising value of
existing portfolio and returning excess cash to shareholders.

“Over the past 12 months, PetroNor has delivered distributions to its
shareholders of up to ~47 per cent of the market value of the company and
remains committed to financial discipline and attractive shareholder returns.
During Q3, a five well infill drilling programme was completed, and going into
Q4 we are seeing increased production. The lifting and sale of our entitlement
oil inventory will mean a welcome addition to our revenue and cash reserves in
December,” says CEO Jens Pace.

Please find enclosed the interim financial report and presentation material for
the quarter ended 30 September 2025.

CEO Jens Pace will present the results in a webcast today at 10:00 CET.

The presentation and subsequent Q&A session will be held in English and may be
viewed live at:
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20251120_1

A recording of the event will be available after the webcast.

For further 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 and OML-113
in Nigeria. Under the terms of the PNGF Sud licences, a proportion of oil
produced is used to pay royalties and tax to the Government. The remaining oil
produced is considered “entitlement oil” that can be lifted by the company and
sold in the market.

More information:
Access the news on Oslo Bors NewsWeb site

660096_25Q3 PNOR Interim Report.pdf
660096_PNOR Results Q3 2025.pdf
660096_25Q3 PNOR Corporate presentation.pdf