Panoro Energy Provides an Update on Tortue Contingent Resources

Panoro Energy ASA is pleased to announce that the Operator of the Dussafu permit, Harvest Natural Resources, has provided an update on the Tortue discovery contingent resources estimate in the Dussafu permit.

With reference to the Operator’s press release today, the Operator’s current interpretation of the Tortue discovery indicates a preliminary range of gross contingent resources between 5 and 45 MMBBL. This most recent discovery brings the Operator’s assessment of the gross combined mean estimate for contingent resources for the four discoveries within the block (Tortue, Ruche, Walt Whitman and Moubenga) to 46 MMBBL. A program of subsurface and conceptual engineering studies has commenced with the objective of evaluating the commerciality of Tortue and the other oil discoveries to determine the optimum development options for the block.

Dussafu Marin is operated by Harvest Dussafu, B.V., an affiliate of Harvest Natural Resources, Inc. Panoro Energy has a 33.33% stake held through a subsidiary company. 

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. Panoro Energy ASA is listed on the Oslo Stock Exchange (Ticker code: “PEN”).