Panoro Energy – Receipt of Bond Proceeds and Full Redemption of RBL Facility

Oslo, 20 December 2024 – Reference is made to the announcement made by Panoro Energy ASA ("Panoro" or the “Company”) on 27 November regarding the successful placement of USD 150 million new senior secured bonds (the "Bonds" or "Bond Issue").

The Company is pleased to announce that the net proceeds from the Bond Issue have now been released from escrow and used in part to fully repay the outstanding amount drawn under the Company’s Reserve Based Lending facility of USD 82.5 million plus all accrued and outstanding interest. The remaining net proceeds from the Bond Issue will be used for general corporate purposes.  

Enquiries

Qazi Qadeer, Chief Financial Officer
Tel:     +44 203 405 1060
Email: investors@panoroenergy.com

About Panoro

Panoro Energy ASA is an independent exploration and production company based in London and listed on the main board of the Oslo Stock Exchange with the ticker PEN. Panoro holds production, exploration and development assets in Africa, namely interests in Block-G, Block S, Block EG-01 and Block EG-23 offshore Equatorial Guinea, the Dussafu Marin, Niosi Marin and Guduma Marin blocks offshore southern Gabon, the TPS operated assets, Sfax Offshore Exploration Permit and Ras El Besh Concession, offshore Tunisia, and onshore Exploration Right 376 in South Africa.

Visit us at www.panoroenergy.com.

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