Oslo, 28 August 2026: In the second quarter, PetroNor E&P ASA ("PetroNor" or the
"Company") received payment of USD 112 million with respect to the sale of
965,000 barrels of oil.
Subsequently, in June, the Company completed a repayment of capital of NOK 3.25
per share to shareholders registered as of 29 May 2026, representing a total
distribution of USD 50 million.
Net production in the second quarter was 5,045 bopd, up from 4,712 bopd in Q1
2026. This improvement results from a lower number of wells awaiting workovers
and more stable facilities uptime.
"This has been a strong second quarter for PetroNor with improved production
efficiency and generation of solid cash proceeds from the lifting and sale of
crude oil. Consistent with our policy, we returned USD 50 million to
shareholders, reflecting both the strength of our balance sheet and our
commitment to delivering shareholder value," says CEO Jens Pace.
Please find enclosed the interim financial report and presentation material for
the quarter ended 30 June 2026.
CEO Jens Pace will present the results in a webcast today at 10:00 CEST.
The presentation and subsequent Q&A session will be held in English and may be
viewed live at: https://qcnl.tv/p/zEsbEm65kY190Bn5hWASJA
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 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.
at can be lifted by\
the company and sold in the market.\