Minutes from the Annual General Meeting

Panoro Energy ASA ("PEN" ticker code OSE) informs that the Annual General Meeting (AGM) in the company was held today May 9, 2012. The Board of Directors' proposal to elect Erik Evjen and Petter Mannsverk Andresen as members of the Nomination Committee was not adopted. Instead of Erik Evjen, Endre O. Sund was elected as a member of the Nomination Committee together with Petter Mannsverk Andresen. All other items on the agenda for the AGM were adopted as proposed by the Board of Directors.

Please find attached the minutes from the AGM.

For further 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  

Carl Peter Berg, VP Commercial and Investor Relations
Tel: +55 21 3078 7472
Cell: +55 21 8541 1907
Email: carl.peter.berg@panoroenergy.com  

Please visit www.panoroenergy.com for more information.