Oslo, 25 May 2016 - Reference is made to the stock exchange notice published by
Panoro Energy ASA (the "Company" or "Panoro" with OSE Ticker: PEN) on 25
May 2016 containing the minutes from the 2016 annual general meeting of the
Company.
In accordance with the resolution by the general meeting to increase the share
capital in the Company to facilitate the reverse split of the Company's share
with a ratio of 10:1, the CEO of the Company, John Hamilton, subscribed for 8
new shares in the Company at a subscription price of NOK 0.005 per share.
Following the issuance of the new shares, Mr Hamilton will hold 488,008 shares
in the Company, equal to approximately 0.115% of the total share capital.
Mr Hamilton is a primary insider of the Company.
This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.
Panoro Energy ASA,
For more information please contact:
Qazi Qadeer
Chief Financial Officer
+44 203 405 1060
info@panoroenergy.com
About Panoro Energy
Panoro Energy ASA is an independent E&P company based in London and listed on
the Oslo Stock Exchange with ticker PEN. The Company holds high quality
production, development, and exploration assets in West Africa, namely OML 113
offshore western Nigeria and the Dussafu License offshore southern Gabon. In
addition to discovered hydrocarbon resources and reserves, both assets also hold
significant exploration potential. For more information, please visit the
Company's website at www.panoroenergy.com.