Merger registered in Register of Business Enterprises

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Panoro Energy ASA (“PEN”, OSE ticker code) – Reference is made to the press release dated June 29, 2010 regarding completion of the merger between PEN and Pan-Petroleum Holding AS (“Pan-Petroleum”). 

The merger has been registered in the Register of Business Enterprises (“Foretaksregisteret”). Please find enclosed the new company certificate (in Norwegian). 

The merger creates a strong South Atlantic oil & gas independent with a reserve and resource base in the order of 200 MMBOE, and establishes a solid foundation for further growth. 

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

Please visit www.panoroenergy.com for more information.