Oslo, 23 April 2024 - Panoro Energy ASA ("Panoro" or the "Company") is pleased
to announce that following an evaluation of available options the operator of
Block G offshore Equatorial Guinea, Trident Energy, has on behalf of the joint
venture awarded a contract for the Noble Venturer drill ship to recommence
infill drilling at the Ceiba Field and Okume Complex.
The Noble Venturer has most recently been engaged in a long-term and successful
drilling campaign offshore Ghana which is expected to conclude in late May,
after which it will relocate to Equatorial Guinea to recommence drilling
operations in June.
Owing to limitations arising from the shallower water depth at one of the
planned infill well locations, the drilling campaign will now comprise of two
infill wells. The third infill well will be deferred as part of a potential
future drilling campaign. Panoro holds a 14.25 per cent participating interest
in Block G. Other partners at Block G are Kosmos Energy and GEPetrol.
The Noble Venturer drill ship has also been contracted to drill the Kosmos
Energy operated Akeng Deep infrastructure led exploration ("ILX") well in Block
S once the two Block G infill wells have been drilled and completed. The Akeng
Deep ILX well is intended to test a play in the Albian, targeting an estimated
gross mean resource of ~180 million barrels of oil in close proximity to
existing infrastructure at Block G. Panoro holds a 12 per cent interest in Block
S. Other partners in Block S are GEPetrol and Trident Energy.
John Hamilton, CEO of Panoro, commented:
"We are very pleased to have secured the high-specification Noble Venturer drill
ship to recommence the infill drilling campaign at Block G and also test the
high-impact Akeng Deep ILX prospect at Block S which, if successful, can open a
new play fairway with potentially very positive read across to the adjacent
Block EG-01 which Panoro operates."
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
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)