Panoro Energy Announces Second Quarter 2019 Results and Provides Operations and Corporate Updates
Oslo, 22 August 2019 - Panoro Energy (the “Company” or “Panoro” with OSE ticker: “PEN”) today announces the second quarter 2019 financial results and subsequent events: Highlights · Gross Revenue for the second quarter 2019 of USD 10.7 million (1H19: USD 30.6 million) and EBITDA of USD 5.1 million (1H19: USD 16.3 million), in line with liftings guidance · Underlying operating profit before tax (Note 1) for the second quarter 2019 of USD 1 million (1H19: USD 8.8 million) on an adjusted basis compared to reporting basis net profit before tax of USD 10.5 million (1H19: USD 14