Oslo, 7 April 2017- Panoro Energy ASA ("Panoro" or the "Company") (OSE ticker
"PEN") notes the announcement by Harvest Natural Resources ("Harvest"), our
Joint Venture partner and operator of the Dussafu Marin Production Sharing
Contract ("Dussafu PSC"), regarding the anticipated completion on 10 April 2017
of the sale of its subsidiary Harvest Dussafu BV to BW Energy Gabon Pte. Ltd.
("BWEG").
The completion of Harvest's transaction is one of the key conditions to the
completion of Panoro's transaction with BWEG. As previously announced, Panoro's
fully-owned subsidiary, Pan-Petroleum Gabon B.V. ("PPGBV"), has entered into a
definitive Sale and Purchase Agreement with BWEG to divest 25% interest in the
Dussafu PSC.
Panoro is pleased to confirm that it has also received all the necessary
Gabonese governmental approvals for its transaction, and is now working with
BWEG on the final documentary procedures for completion. We anticipate Panoro's
closing to take place as soon as practically possible after completion of the
Harvest's transaction.
We look forward to updating the market on Panoro's completion in the near
future.
Enquiries:
Panoro Energy ASA +44 203 405 1060
John Hamilton, Chief Executive Officer 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, exploration and development assets in West Africa, namely the
Dussafu License offshore southern Gabon and OML 113 offshore western Nigeria. 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.