Fourth Quarter report 2012
Panoro Energy ASA and its subsidiaries (“Panoro Energy” or “Panoro” or “the Company”) report EBITDA of USD 5.6 million for the fourth quarter 2012. Production from Manati remained high as gas demand from thermoelectric power plants continued to be strong during the quarter. The drilling of the Tortue prospect on the Dussafu Marin Permit offshore Gabon resulted in an oil discovery and oil was discovered also in the subsequent appraisal well. Reservoir and conceptual engineering studies are initiated to evaluate the potential commerciality of the discovery. In the southern Santos basin in