Panoro Energy: PetroNor E&P ASA Consideration Shares Issued
Oslo, 27 July 2022 – Panoro Energy ASA (“Panoro” or the “Company”) with OSE Ticker: “PEN”) makes reference to its announcement of 13 July 2022 confirming completion of the sale of its fully-owned subsidiaries Pan-Petroleum Services Holding BV and Pan-Petroleum Nigeria Holding BV (together referred to as “Divested Subsidiaries”) to PetroNor E&P ASA (“PetroNor”) for an upfront consideration of USD 10 million plus a contingent consideration of up to USD 16.67 million based on future gas production volumes ("the Transaction"). As notified to the market, the upfront consideration is in the