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Regulatory press release

Panoro Energy - Start-up of Gas Lift Compressor on BW Adolo FPSO

Panoro Energy
Oslo, 18 July 2023 - Panoro Energy ASA ("Panoro" or the "Company") notes the
operator of the Dussafu Marin Permit offshore Gabon has today announced start-up
of the new gas lift compressor on the BW Adolo FPSO following recent
commissioning and gradual ramp up of gas lift capacity.

The gas lift compressor will support production from all six existing wells at
the Tortue field and once fully operational is expected to add approximately
3,000 bopd of gross production.

Panoro hold a 17.5 percent working interest in the Dussafu Marin Permit.

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)
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