Notice of Extraordinary General Meeting

Panoro Energy ASA (“PEN” ticker code OSE) is pleased to invite the shareholders in the Company to attend an Extraordinary General Meeting (EGM) scheduled to be held November 9, 2012 at 10:00 Oslo time at Hotel Continental, Stortingsgt 24/26, Oslo, Norway.

On the agenda for the EGM are:

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. Election of Board members
5. Confirmation of resolutions by the Board in the period after September 26, 2012 until the date of this extraordinary general meeting

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

For further information please contact:

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