PetroNor E&P ASA: Q4 2025 update – infill drilling delivers production increase

12 Jan 2026 06:30 CET

Oslo, 12 January 2026: PetroNor E&P ASA (“PetroNor” or the “Company”) is
providing the following update on the Congo operations related to the PNGF Sud
field complex.

Fourth quarter average net working interest production was 4,608 bopd*, compared
with 4,116 bopd in the previous quarter and 4,759 bopd in the fourth quarter of
2024. Production efficiency was at 91 per cent, the same as in the third
quarter.

As of early December, jack-up rig Axima has completed the five infill wells in
Tchibouela East, and all have been put on production. The wells exhibit
excellent reservoir properties and collectively have contributed a gross
December production incremental of above 6,500 bopd resulting in a gross 2025
exit production rate for the PNGF Sud complex exceeding 32,000 bopd (net 5,400
bopd).

As announced, the Company lifted and sold 540,000 barrels of entitlement oil in
November and is building inventory available for sale at a rate of 100,000 per
month. An additional lifting is expected during Q1 2026.

The full account of production (including final allocation for November and
December) will be presented in the interim report for the fourth quarter of
2025.

*Effective 16.83 per cent net to PetroNor working interest production with
preliminary only production allocations for November and December.

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 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:
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663432_20260112 PNOR Q4 2025 update.pdf