Panoro Energy Announces Agreement for the Sale of all its Interest in OML 113, Offshore Nigeria
Oslo, 21 October 2019 - Panoro Energy ASA (the "Company" or “Panoro” with OSE Ticker: “PEN”) is pleased to announce that it has entered into a sale and purchase agreement with PetroNor E&P Limited (“PetroNor”), an exploration & production oil and gas company listed on the Oslo Axess, to divest all outstanding shares in its fully owned subsidiaries Pan-Petroleum Services Holding BV and Pan-Petroleum Nigeria Holding BV (together referred to as “Divested Subsidiaries”) for an upfront consideration consisting of the allotment and issue of new PetroNor shares with a fixed value of US$ 10 million