Recommendations from Nomination Committee

20120502 Nomination Committee s recommendation 201220120502 Nomination Committee s recommendation 2012Panoro Energy ASA ("PEN", OSE ticker code): Please find enclosed the recommendations from PEN's Nomination Committee in connection with the Company's Annual General Meeting on May 9, 2012.

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

For further 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

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.