Panoro Energy – Payback Achieved for 2021 Equatorial Guinea Acquisition
Oslo, 14 September 2022 – Panoro Energy ASA (“Panoro” or the “Company”) is pleased to announce that following its lifting of 745,000 barrels of oil at Block G offshore Equatorial Guinea in July and receipt of its related payment in excess of USD 80 million, cumulative net cash flow generated from Panoro’s production entitlement at Block G has exceeded the upfront acquisition cost of USD 94 million. Panoro completed the acquisition of its 14.25 percent non-operated participating interest in Block G, which holds the producing Ceiba and Okume Complex fields, in March 2021. Panoro’s net