Panoro Energy – 2022 Annual Statement of Reserves: 92 Percent Organic Reserve Replacement Ratio Achieved
Oslo, 27 April 2023 – Panoro Energy ASA (“Panoro” or the “Company”) is pleased to announce the release of its 2022 Annual Statement of Reserves (the “ASR”). Panoro achieved an organic reserve replacement ratio of 92 percent in 2022. Consequently, the Company’s net working interest 2P reserves as of 31 December 2022 stood at 35.61 million barrels of oil (“MMbbls”), materially unchanged from the 35.82 MMbbls reported at end 2021. Volumes stated in the ASR do not reflect the increase in reserves arising from the acquisition by Panoro of a minority share in its Tunisian business which