2011 Financial calendar

The financial calendar for 2011 for Panoro Energy ASA (“PEN”, OSE ticker code) is as follows:

February 18, 2011                        
Fourth Quarter 2010 Results

May 13, 2011             
First Quarter 2011 Results and Annual General Meeting

August 11, 2011
Second Quarter 2011 Results

November 4, 2011                       
Third Quarter 2011 Results

Please note that the financial calendar is subject to change.

The Company holds presentations open to the public every quarter, and the presentations will also be available through webcast. The information presented quarterly as well as other presentations are published at our website www.panoroenergy.com.

For further information, please contact:

Anders Kapstad, CFO
Tel: +47 23 01 10
Cell: +47 918 17 442
Email: anders.kapstad@panoroenergy.com

Jonas Gamre, Finance & Investor Relations Manager
Tel: +47 23 01 10 02
Cell: +47 971 18 292
Email: jonas.gamre@panoroenergy.com

Please visit www.panoroenergy.com for more information.