Notification of trade

Panoro Energy ASA (OSE ticker code “PEN”) announces that the following primary insiders in the Company have purchased shares on August 11, 2011: 

• Ragnar Søegaard, member of the Board of Directors has bought 20,000 shares at an average price of NOK 4.6526. Following this, Ragnar Søegaard controls 73,000 shares in Panoro Energy ASA.
• A related party of Phil Vingoe, Chairman of the Board has bought 100,000 shares at an average price of NOK 4.6315 per share. Following this, Phil Vingoe and related parties control 1,439,669 shares in Panoro Energy ASA.
• Nishant Dighe, Chief Operating Officer has bought 50,000 shares at an average price of NOK 4.6000 per share. Following this, Nishant Dighe controls 1,309,669 shares in Panoro Energy ASA.
• Therese Fuglerud, Group Administration Manager has bought 10,000 shares at an average price of NOK 4.7811 per share. Following this, Therese Fuglerud controls 10,000 shares in Panoro Energy ASA.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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