Notice of Annual General Meeting

Panoro Energy ASA (“PEN” ticker code OSE) is pleased to invite the shareholders in the Company to attend the Annual General Meeting (AGM) scheduled to be held June 20, 2013 at 09:00 Oslo time at Hotel Continental, Stortingsgt 24/26, Oslo, Norway.

Agenda:

1. Opening of the meeting by the Chairman of the Board Dr. Phil Vingoe, including the taking of attendance of shareholders present
2. Election of chairman of the meeting and a person to co-sign the minutes
3. Approval of notice and agenda
4. Approval of the annual accounts and the annual report for the financial year 2012
5. Approval of remuneration to the Board of Directors
6. Election of Board members
7. Approval of remuneration to the members of the nomination committee
8. Appointment of members to the nomination committee
9. Remuneration to the auditor
10. Approval of the statement by the Board regarding remuneration principles to the Management
11. Approval of the guidelines for the Nomination Committee
12. Proposal to authorize the Board of Directors to conduct capital increases by way of share issue
13. Proposal to authorize the Board of Directors to acquire the Company's own shares

Please find enclosed notice of AGM, appendices and registration/proxy form.

For further information please contact:
Carl Peter Berg, VP Commercial and Investor Relations
Cell: +55 21 8541 1907
Email: carl.peter.berg@panoroenergy.com

Please visit www.panoroenergy.com for more information

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