Oslo, 25 October 2026 - Panoro Energy ASA ("Panoro" or the "Company") confirms
with profound sadness that an incident occurred on the Dussafu Marin Permit
("Dussafu") offshore Gabon at 20:37 local time on Saturday 24 October 2026,
involving the jack-up drilling rig Prospector 5, owned and operated by Borr
Drilling. During jacking operations in preparation for a planned drilling
campaign, the rig apparently experienced a loss of stability and subsequently
sank.
At the moment the immediate and overriding priority is the safety and wellbeing
of all personnel affected by this incident.
At the time of the incident there were 115 people onboard the Prospector 5. A
total of 110 have been safely accounted for while five tragically remain
missing. The rig owner's emergency response team has been activated and
supported closely by BW Energy the operator of Dussafu, is undertaking extensive
search and rescue operations in close coordination with relevant authorities and
emergency responders.
The Company's thoughts and prayers are with the five people who remain missing
and with their families, friends and colleagues at this deeply distressing time.
Panoro stands alongside the rig owner, the operator and the emergency responders
in their efforts, and expresses its sincere gratitude and full solidarity with
all those involved in the search and rescue operations.
Production at the MaBoMo facility is shut down in accordance with standard
procedure during ongoing drilling preparations. There has been no reported
damage to the facility or related equipment, nor any accidental discharge of
harmful substances to the sea from the facility.
Panoro holds a 17.5 per cent non-operated participating interest in Dussafu.
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 EG-01 and Block EG-23 offshore Equatorial
Guinea, the Dussafu Marin, Niosi Marin and Guduma Marin Licenses offshore
southern Gabon, the TPS operated assets in Tunisia, Block CI-27 offshore Côte
d'Ivoire and onshore Exploration Right 376 in South Africa.
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