PEN – Evaluation of Strategic Alternatives for West Africa
Panoro Energy ASA (“PEN", OSE ticker code), the independent oil and gas company with assets in West Africa and Brazil is pleased to announce that it has retained FirstEnergy Capital LLP (“FirstEnergy") to initiate a process to explore and evaluate potential strategic alternatives for its West African business unit with a view to enhancing shareholder value.
FirstEnergy, as financial advisor to the Board, will assist in the process of analyzing and evaluating prospects and options to the Company which may include a sale, merger, listing, financing or other alternatives. The Company has not set a timetable for the completion of the review process and it does not intend to comment further regarding the review process unless a specific transaction is approved.
For further information, please contact:
Panoro Energy ASA
Nishant Dighe
President Africa
Tel: +44 203 405 1062
Email: Nishant.Dighe@panoroenergy.com
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.