Capital increase

Panoro Energy ASA ("PEN", OSE ticker code) announces that further to Panoro Energy ASA's stock exchange release of March 22 and March 4, 2011 and the prospectus dated March 4, 2011, the share capital increase resolved by the extraordinary general meeting in Panoro Energy ASA held March 1, 2011 in connection with the subsequent offering has been registered with the Norwegian Register of Business Enterprises. Following this, the share capital of the Company is NOK 342,547,498.77 consisting of 234,545,786 shares each with a par value of NOK 1.460471768 and representing one vote in the general meeting.

Please find enclosed the Company certificate in Norwegian.

For further information, please contact:
Anders Kapstad, CFO
Tel: +47 23 01 10 01
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