Panoro Energy: First Quarter 2022 Trading and Financial Update
Oslo, 25 May 2022 - Panoro Energy ASA (“Panoro” or the “Company” with OSE Ticker: PEN) is pleased to report that working interest production for the first three months averaged 8,300 bopd, a new quarterly record for the Company. Operational and financial performance in the quarter were in line with guidance. The Company is underpinned by a robust balance sheet with cash at end March 2022 of USD 29.4 million and a conservative leverage profile. With a period of sizeable crude oil liftings set to commence in July and limited production hedged the Company is well positioned to capitalise on