Manati update

Panoro Energy ASA ("PEN", OSE ticker code), the independent oil and gas company with assets in West Africa and Brazil, is pleased to announce that two wells at the Manati field offshore Brazil that were undergoing maintenance on the platform risers are back in production. The field is currently producing approximately 4 MMm3/day from  three wells.
 
Due to logistics of supply of necessary equipment, precise timing for resuming the production from the three remaining wells is uncertain. The operator expects that all six wells will be in production by August 2011.
  
Panoro Energy ASA holds its 10 % ownership in the Manati gas field through its Brazilian subsidiary Rio das Contas.
 
For more information, please contact:
Jonas Gamre, Finance & Investor Relations Manager
Tel: +47 23 01 10 02
Cell: +47 971 18 292
Email: jonas.gamre@panoroenergy.com