Panoro Energy – Third Quarter 2022 Trading and Financial Update and Shareholder Returns Policy
Oslo, 30 November 2022 – Panoro Energy ASA (“Panoro” or the “Company”) today announced a record quarterly financial performance with Q3 revenue of USD 96.1 million and EBITDA of USD 68.4 million driving a net quarterly profit of USD 35.4 million. With an active work programme across all three production assets underway the Company reiterates that it is on track to increase net production from today’s level of 7,700 bopd to 12,500 bopd during the course of 2023. In line with its commitment to delivering shareholder returns, the Board of Panoro has authorised the commencement of cash dividend