Panoro Energy – First Quarter 2024 Trading and Financial Update
Oslo, 23 May 2024 – Panoro Energy ASA (“Panoro” or the “Company”) is pleased to announce strong first quarter operational and financial performance. Panoro group working interest production was in line with expectations at 9,605 bopd. Reported revenue was USD 68.9 million, EBITDA USD 38.7 million and net profit USD 12.1 million. Consistent with its commitment to delivering sustainable shareholder returns, Panoro has today declared a Q1 2024 cash distribution of NOK 50 million and has initiated a share buy-back program that allows the Company to repurchase up to NOK 100 million of its