Panoro Energy - Publication of 2019 Annual Statement of Reserves
Oslo, 30 April 2020 - Panoro Energy ASA (the “Company” or “Panoro” with OSE Ticker: PEN) is pleased to announce the release of its 2019 Annual Statement of Reserves (the “ASR”). After taking account of 2019 production and removing Aje reserves that are classified as held for sale, the net reserves for Panoro’s producing oil fields have materially increased, compared to the end of 2018 (excluding Aje), by the following amounts: · 1P reserves increase of 73% · 2P reserves increase of 40% · 3P reserves increase of 30% As of 31 December 2019, the total reserves net to Panoro in