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The attached material will today be presented at the Bank of America/Merrill Lynch 10th Annual Oil & Gas 1-1 Investor Forum in Hertfordshire, UK. This material will also form the basis for presentations at several industry events and broker seminars this week.

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

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