MANDATORY NOTIFICATION OF TRADES
Chairman buys shares in Panoro Energy ASAOslo, 8 December 2016: Panoro Energy ASA (the “Panoro” or the “Company” with OSE ticker “PEN”) announces that on 7 December 2016 Mr. Julien Balkany, non-executive Chairman and member of the Board of Directors, has through Balkany Investments LLC, an affiliate controlled by him, bought 225,338 shares at an average price of NOK 3.6872 per share. Following this purchase, Mr. Balkany, has a direct and indirect control and beneficial ownership of 1,325,444 shares in Panoro Energy ASA. This information is subject to the disclosure requirements pursuant