Panoro energy asa (pen.ol)

[sulzrox]

Noe fra dagens FA side 20. (kjøp og les)

Panoro er en deilig aksje
Det som er interessant nå er at funnet gjør fase 3 dobbelt så stor som fase 1 og 2 tilsammen, målt i ressurser
Nedsiden skal være begrenset fordi produksjonen om kort tid forsvarer dagens kurs.
Vi tror at når fase 3 begynner å produsere mot slutten av 2021, vil produksjonen fra hele Dussafu-lisensen kunne nærme seg 50.000 fat om dagen, sier han.
Sidesteget som ble boret på Hibiscus, tok for seg en formasjon som opprinnelig hadde gitt små utslag på seismikken. Slike formasjoner med lignende trekk har man sett mange av på blokken, men de er nok i stor grad tidligere blitt oversett og ignorert. Disse må man nå reevaluere med ny innsikt

Stenslet er også meget positiv til selskapets finansielle standing, som med en markedsverdi på rundt 150 millioner dollar kun har 1,5 millioner dollar i nettogjeld.

[sulzrox]

Arne Blystad satser på Panoro Energy

Blystad inn

Stadig flere investorer har fått øynene opp for selskapet, og ferske aksjonærlister viser nå at Arne Blystad er blant disse.

Blystads investeringsselskap Songa Trading dukker opp som 43. største eier i selskapet med 250.000 aksjer kjøpt i forrige uke.

Panoro Energy står mandag ettermiddag i 22,85 kroner, etter en oppgang på 0,7 prosent. Det betyr at Blystads aksjepost er priset til rundt 5,7 millioner kroner.

Samtidig har Sundt-søsknene, gjennom Sundt AS, styrket sin posisjon som største aksjonær i oljeselskapet. Investeringsselskapet økte med 390.000 aksjer i forrige uke, og sitter nå med 7,48 prosent av aksjene. Deres 4,68 millioner aksjer er nå priset til nærmere 107 millioner kroner.

En rekke andre profilerte investorer er også på eiersiden i Panoro, deriblant Edvin Austbø, Hermine Midelfart, Ketil Skorstad og Torstein Tvenge.

[TekBot]

Panoro Energy Announces Agreement for the Sale of all its Interest in OML 113, Offshore Nigeria

Oslo, 21 October 2019 - Panoro Energy ASA (the “Company” or “Panoro” with OSE
Ticker: “PEN”) is pleased to announce that it has entered into a sale and
purchase agreement with PetroNor E&P Limited (“PetroNor”), an exploration &
…

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production oil and gas company listed on the Oslo Axess, to divest all
outstanding shares in its fully owned subsidiaries Pan-Petroleum Services
Holding BV and Pan-Petroleum Nigeria Holding BV (together referred to as
“Divested Subsidiaries”) for an upfront consideration consisting of the
allotment and issue of new PetroNor shares with a fixed value of US$ 10 million
(the “Share Consideration”) plus a contingent consideration of up to US$ 25
million based on future gas production volumes (the “Transaction”).

The Divested Subsidiaries hold 100% of the shares in Pan-Petroleum Aje Limited
(“Pan Aje”), which participates in the exploration for and production of
hydrocarbons in Nigeria and holds a 6.502% participating interest, with 16.255%
cost bearing interest, representing an economic interest of 12.1913% in Offshore
Mining Lease no. 113 (“OML 113”). Following completion of the Transaction,
Panoro will have no presence in Nigeria.

John Hamilton, Chief Executive Officer of Panoro said: “We are extremely pleased
to have reached this win-win agreement with PetroNor that perfectly suits both
parties’ ambitions. Aje was a non-core asset for Panoro and allows us to further
focus on expanding our organic operations in Tunisia and Gabon while retaining
exposure to the considerable upside at OML 113 through the deferred
consideration. We are very confident that PetroNor has the technical and
financial capabilities along with the depth of expertise and vision to advance
further the next ambitious development phases of Aje in a smooth and efficient
aligned partnership with the operator, YFP.”

Further Information

Under the terms of the Transaction, PetroNor has an option to pay a portion of
the Share Consideration in cash, in an event PetroNor’s share price reduces to
less than US$ 0.13 per share (based on the current number of shares in issue),
at the time of completion of the Transaction.

By its indirect acquisition of Pan Aje, PetroNor will with effect as of 30 June
2019, assume all the benefits and obligations in relation to Panoro’s interest
in the OML 113 operations.

Concurrently, PetroNor is in the process of finalising separate agreements with
the OML 113 operator Yinka Folawiyo Petroleum (“YFP”) to create a new holding
company. PetroNor will assume a lead technical and management role in order to
progress the next phases of the project. Together these agreements provide the
framework and pathway towards sanction of the next phases of the Aje project in
order to exploit the substantial gas and liquids reserves and unlock its
significant value.

Completion of the Transaction is conditional upon the execution and completion
of the agreements between PetroNor and YFP, the authorisation of the Nigerian
Department of Petroleum Resources and the consent of the Nigerian Minister of
Petroleum Resources. Securing the authorisation and consent is expected to take
several months with a long stop date agreed by the parties of 31 December 2020,
following which either party is entitled to terminate the Transaction.

Following completion of the Transaction, subject to the terms agreed with
PetroNor on a best efforts basis, Panoro’s intention is to declare a special
dividend and distribute the Share Consideration, to the extent received in
shares, to its shareholders. Further information about such a possible dividend,
including the applicable record date, will be given in connection with
completion of the Transaction.

Once Pan Aje has recovered all costs related to the accumulated investments
incurred after the date of completion, PetroNor must pay to Panoro additional
consideration of US$ 0.15 per 1,000 cubic feet of the Aje Natural Gas Sales
Volume, such additional consideration being capped at US$ 25 million (the
“Contingent Consideration”).

The Transaction is expected to generate a net gain for Panoro which will be
accounted for in the Financial Statements of Panoro upon closing of the
Transaction. The final amount will depend on the Contingent Consideration.

Following completion, Panoro’s production and reserve numbers will be adjusted
to reflect the sale.

Julien Balkany, Chairman of Panoro, commented: “Panoro has been reviewing
options in relation to its Nigerian assets with the objective of potentially
unlocking value of OML 113 for its shareholders. This divestment is consistent
with Panoro’s strategy to optimize its E&P portfolio. In addition, through the
contemplated distribution of PetroNor shares to Panoro shareholders, this
transaction provides Panoro’s shareholders with the opportunity to directly
retain exposure to OML 113. Panoro remains fully committed to its growth
strategy in Africa for the benefit of its shareholders”.

No agreements have been entered or are expected to be entered into, with
shareholders in Panoro or PetroNor, Boards of Directors or senior management in
connection with the Transaction.

Since Panoro’s interest in OML 113 is non-operated, the Transaction is not
expected to have any impact of changes to the number of employees, key
management personnel and the Board of Directors within the Company or its
remaining subsidiaries. Details of the key financial information is included in
an Appendix to this announcement. Furthermore, there are no material undisclosed
assets or commitments in addition to those disclosed in the Appendix.

This information is pursuant to the requirements of Oslo Stock Exchange
Continuing Obligations Chapter 3.4.

Enquiries

John Hamilton, Chief Executive Officer
Qazi Qadeer, Chief Financial Officer

Tel: +44 203 405 1060
Email: investors@panoroenergy.com

About Panoro Energy
Panoro Energy ASA is an independent E&P company based in London and listed on
the Oslo Stock Exchange with ticker PEN. The Company holds high quality
production, exploration and development assets in Africa, namely the Dussafu
License offshore southern Gabon, OML 113 offshore western Nigeria, and the TPS
operated assets, Sfax Offshore Exploration Permit and Ras El Besh Concession,
offshore Tunisia. For more information, please visit the Company’s website
at www.panoroenergy.com.

Appendix

The below tables show key unaudited production, sales and financial information
including those from the balance sheet and profit and loss account for Pan Aje
on a consolidated basis with the Divested Subsidiaries for the financial years
ended 31 December 2016, 2017 and 2018 and half year ended 30 June 2019:

                 HY ended    YE 31     YE 31    YE 31 December 2016
                 30 June   December  December
                  2019      2018      2017

Net average daily 373 358 307 515
production (Bopd)
Oil sales (bbls) - 92,842 142,761 113,367 110,539
Net to Panoro

Balance sheet highlights as at:

Amounts in US$ 30 31 December 2018 31 December 2017 31 December 2016
000 June
2019
Assets
Licence and 7,204 7,204 11,768 10,933
exploration
assets
Production 5,529 6,415 3,532 25,143
assets and
equipment
Other current 455 1,113 3,275 1,004
assets
Total assets 13,188 14,732 18,575 37,081

Liabilities
Decommissioning 3,189 2,159 2,039 1,925
liability
Other non 6,847 6,847 6,847 -
-current
liabilities
Other current 3,583 5,940 6,475 1,248
liabilities
Total 13,618 14,947 15,361 3,173
liabilities

Profit and loss highlights for the periods ended:

Amounts in US$ HY 30 YE 31 YE 31 YE 31 December 2016
000 June December December
2019 2018 2017
Oil revenue 6,301 9,474 6,021 5,461
Operating costs (4,188) (7,577) (6,858) (4,558)
EBITDA 2,113 1,897 (837) 903
Impairment and (1,862) (3,282) (34,656) (40,945)
depreciation
General and (57) (130) (190) (132)
administration
costs
Net (82) (1,941) (36,081) (40,443)
income/(loss)

The foregoing information in this Appendix has been extracted from Panoro
group’s accounting records after taking into account intercompany group
elimination adjustments that had been included for group consolidation purposes
in the periods presented.

Kilde

[sulzrox]

Panoro selger AJE for 10 USD mill og kan seinere (mange år til) få ekstra opptil 25 USD mill fra gass.

I mine øyne er denne meldingen nøytral. Den tar bort usikkerheten med AJE men tar også bort oppsiden.
Nå står Tunisia igjen som den store usikkerheten men da mest på oppsiden. En liten joker.

Panoro Energy har inngått avtale med PetroNor

Etter gjennomføring av transaksjonen har Panoro intensjon om å erklære et ekstraordinært utbytte og distribuere aksjevederlaget til selskapets aksjonærer.

Det fremgår videre at transaksjonen ventes å gi en netto gevinst for Panoro som vil bli regnskapsført ved gjennomføring.

Pareto-analytiker har to favoritter - anbefaler kjøp

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Panoro Energy ASA - Contemplated Private Placement

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER
JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
…

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UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.

Oslo, 22 October 2019 - Panoro Energy ASA (“Panoro” or the “Company” with OSE
Ticker “PEN”) has engaged Arctic Securities AS (the “Manager”) to assist the
Company in a contemplated equity private placement (the “Private Placement”)
through the issuance of up to 6,238,760 new shares (the “New Shares” ),
representing a maximum of 10% of the outstanding number of shares of the Company
prior to the issue of New Shares. The net proceeds from the Private Placement
will be mainly used to fund Panoro’s share of exploration and Phase 3
expenditure of the future work program on the Dussafu permit (“Dussafu”),
offshore Gabon, as well as for new exploration ventures identified and for
general corporate purposes. Panoro’s growth in Tunisia is to be funded from cash
generative production and existing cash balances.

The New Shares will be offered at a price determined through an accelerated book
-building process. The book-building period will commence today 22 October 2019
at 16:30 hours (CET) and is anticipated to close no later than tomorrow 23
October 2019 at 08:00 hours (CET). The Company may, however, at any time resolve
to close or extend the book-building period at its own discretion and for any
reason without any further notice.

The minimum subscription and allocation in the Private Placement has been set to
the number of new shares that equals an aggregate subscription price of at least
the NOK equivalent of EUR 100,000. The Company may however, at its sole
discretion, allocate an amount below the NOK equivalent of EUR 100,000 to the
extent applicable exemptions from the prospectus requirement pursuant the
Norwegian Securities Trading Act and ancillary regulations, or similar
legislation in other jurisdictions, are available.

The allocation of the New Shares will be determined at the end of the book
-building period. The final allocation of the New Shares will be made by the
Company’s Board of Directors (the “Board”) and at the Board’s sole discretion.
The completion of the Private Placement will be conditional upon (i) the
Board resolving to conduct the Private Placement and allocate New Shares; and
(ii) registration of the increased share capital of the Company pertaining to
the Private Placement with the Norwegian Register of Business Enterprises and
the Norwegian Central Securities Depositary.

A number of primary insiders including key management and members of the Board
have pre-committed to subscribe for and will be allocated New Shares at the
final subscription price.

The New Shares will be issued by the Board pursuant to the authorization granted
the ordinary general meeting held on 23 May 2019.

Following the successful exploration campaign at Dussafu, offshore Gabon, with
the recent Hibiscus Updip oil discovery, the Company believes that the
development Phase 3 at Dussafu will be sanctioned by the partners in the very
near future. Phase 3 will focus on the Ruche area plus the newly discovered
Hibiscus oil field. The significant volumes of oil found at Hibiscus and the
excellent reservoir properties suggest that Phase 3 could contribute higher
production volumes than previously indicated. The capacity of the BW Adolo FPSO
is currently approximately 40,000 barrels of oil per day and Phase 3 is now
estimated to deliver production volumes near this level for many years once it
comes on line in late 2021/early 2022. Opex per barrel is also anticipated to
materially decrease.

Additional exploration wells at Dussafu may also be drilled during 2020. The
current drilling contract contains two firm exploration wells with the
successful Hibiscus Updip being the first. Following the drilling of four
production wells at the Tortue field the rig will move to drill the final firm
exploration well at a location to be determined. Under the drilling contract,
the partners also have an option for two additional exploration wells. It is
likely that one or more of these new exploration wells will be elected to be
drilled by the partners.

Furthermore, the Company is focussed and well advanced in adding new material
exploration exposure to its balanced E&P portfolio. Panoro is pleased to report
that it has entered into two heads of terms agreements (“HOT”) to participate in
new exploration growth opportunities, in consortium with other reputable
international oil companies. Panoro’s anticipated non-operated stake in those
offshore exploration licenses are expected be between 10 and 20%. While there is
no guarantee that the HOTs or other new ventures being pursued will lead to
definitive agreements, it is the Company’s belief that one or more transactions
will materialise in the near term.

The Board believes that the Company’s financial position should be strengthened
ahead of these positive developments. The Board is further of the opinion that,
taken into account the relative size of the Placement, an offer of shares
directed to certain investors will result in a better subscription price,
involve less time and costs and transaction risk that is the case of for a
rights issue and hence, that the Placement is in the best interest of the
Company. Consequently, the Board has resolved to waive exiting shareholders’
preferential rights to subscribe for the New Shares.

Arctic Securities AS is engaged as sole manager for the Private Placement.
Advokatfirmaet Schjødt AS is acting as legal advisor for Panoro in connection
with the Private Placement.

An updated corporate presentation is available on our website at
www.panoroenergy.com.

This announcement is made pursuant to section 5-12 of the Securities Trading
Act.

Enquiries:

Arctic Securities AS

Equity Sales desk

Tel: +47 21 01 31 85

Panoro Energy ASA

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

About Panoro Energy
Panoro Energy ASA is an independent E&P company based in London and listed on
the Oslo Stock Exchange with ticker PEN. The Company holds high quality
production, exploration and development assets in Africa, namely the Dussafu
License offshore southern Gabon, OML 113 offshore western Nigeria, and the TPS
operated assets, Sfax Offshore Exploration Permit and Ras El Besh Concession,
offshore Tunisia. For more information, please visit the Company’s website
at www.panoroenergy.com.

Kilde

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Panoro Energy - Private Placement Successfully Completed

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANYOTHER
…

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JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.

Oslo, 22 October 2019 - Panoro Energy ASA (the “Company” or “Panoro”, with OSE
Ticker: “PEN”) is pleased to announce that the Company has successfully
completed a private placement of approximately NOK 149 million of new equity
(equivalent to approximately 10% of the issued share capital) (the “Private
Placement”) with the support of new and existing shareholders. The Private
Placement was oversubscribed and the price in the book-building was set at NOK
23.90 per share representing a 2% discount to the last closing price and an 18%
premium to the 30-day VWAP. As a result, 6,238,760 shares (the “New Shares”)
will be issued following the Private Placement.

The completion of the Private Placement and delivery of the New Shares is
expected to occur on or about 31 October 2019, dependent on registration of the
increased share capital of the Company pertaining to the Private Placement with
the Norwegian Register of Business Enterprises and the Norwegian Central
Securities Depositary. The New Shares will be issued by the Board pursuant to
the authorization granted the ordinary general meeting held on 23 May 2019.
Following issuance of the New Shares the issued and outstanding share capital of
the Company will be NOK 3,439,992.90, divided into 68,799,858 shares each having
a par value of NOK 0.05.

The net proceeds from the Private Placement will be mainly used to fund Panoro’s
share of exploration and Phase 3 expenditure of the future work program on the
Dussafu permit (“Dussafu”), offshore Gabon, as well as for new exploration
ventures identified and for general corporate purposes.

Panoro’s Chief Executive Officer, John Hamilton, commented:

“On behalf of Panoro, I would like to thank our existing and new investors for
their strong support in this oversubscribed equity private placement. It is a
solid endorsement for Panoro, its assets, and continued growth ambitions. It
strengthens our financial position as we move forward with Phase 2 and 3 at
Dussafu, which will substantially increase Panoro’s production and generate
strong cash flow. In the meantime we intend to expand our exploration portfolio
in a disciplined manner and capitalize on our 100% exploration success rate in
Africa. We are entirely focused on building a balanced full-cycle African E&P
company with the objective of creating further value for all shareholders”.

The Board is further of the opinion that, taken into account the relative size
of the Placement, an offer of shares directed to certain investors will result
in a better subscription price, involve less time and costs and transaction risk
that is the case of for a rights issue and hence, that the Placement is in the
best interest of the Company. Consequently, the Board has resolved to waive
exiting shareholders’ preferential rights to subscribe for the New Shares.

The following primary insiders of the Company have been allocated New Shares in
the Private Placement, each such share allocated at the Subscription Price:

· Julien Balkany, Non-executive Chairman and member of the Board: 50,209 New
Shares. After the transaction, Julien Balkany through his affiliates, directly
and indirectly controls 3,166,244 shares and has no share options or Restricted
Share Units in the Company.
· Torstein Sanness, member of the Board: 20,920 New Shares. After the
transaction, Mr. Sanness owns 153,031 shares and has no share options or
Restricted Share Units in the Company.
· Hilde Ådland, member of the Board: 2,092 New Shares. After the transaction,
Ms. Ådland owns 9,097 shares and has no share options or Restricted Share Units
in the Company.
· John Hamilton, CEO: 8,368 New Shares. After the transaction, John Hamilton
owns 263,962 shares and has 394,816 Restricted Share Units in the Company, which
subject to fulfilling the vesting conditions, entitles him to 394,816 shares in
the Company.
· Qazi Qadeer, CFO: 4,184 New Shares. After the transaction, Qazi Qadeer owns
118,877 shares and has 138,649 Restricted Share Units in the Company, which
subject to fulfilling the vesting conditions, entitles him to 138,649 shares in
the Company.
· Richard Morton, Technical Director: 4,184 New Shares. After the transaction,
Richard Morton owns 158,939 shares and has 131,984 Restricted Share Units in the
Company, which subject to fulfilling the vesting conditions, entitles him to
131,984 shares in the Company.

Arctic Securities AS acted as sole manager for the Private Placement.
Advokatfirmaet Schjødt AS is acted as legal advisor for Panoro in connection
with the Private Placement.

This information is subject to the disclosure requirements pursuant to section 5
-12 and section 4-2 of the Norwegian Securities Trading Act.

Panoro Energy ASA

John Hamilton, Chief Executive Officer

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

About Panoro Energy
Panoro Energy ASA is an independent E&P company based in London and listed on
the Oslo Stock Exchange with ticker PEN. The Company holds high quality
production, exploration and development assets in Africa, namely the Dussafu
License offshore southern Gabon, OML 113 offshore western Nigeria, and the TPS
operated assets, Sfax Offshore Exploration Permit and Ras El Besh Concession,
offshore Tunisia. For more information, please visit the company’s website at
www.panoroenergy.com.

Kilde

[sulzrox]

Placement was oversubscribed and the price in the book-building was set at NOK
23.90 per share representing a 2% discount to the last closing price and an 18%
premium to the 30-day VWAP.

Emisjonskursen var fin 23.90

Så håper eg dette var siste emisjon.

Panoro Energy hentet 150 mill. på noen timer

I FA side 10

[sulzrox]

Oppdater presentasjon.
Mye nytt her

Corporate-Presentation-221019.pdf

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Panoro Energy Announces a 68% Increase in 2P Oil Reserves at Dussafu, Offshore Gabon

Oslo, 30 October 2019 - Panoro Energy ASA (“Panoro” or the “Company” with OSE
Ticker: “PEN”) is pleased to report a 68% increase in 2P oil reserves in the
Dussafu Marin Permit (“Dussafu”), offshore Gabon.
…

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Following the successful discovery and appraisal of the Hibiscus Updip well
announced by Panoro on 4 October 2019, the discovered resources at Hibiscus has
now been quantified and classified by independent reserves auditor Netherland,
Sewell & Associates Inc. (“NSAI”) as oil reserves.

NSAI has estimated the following recoverable oil reserves for Hibiscus:

· Proved (1P) reserves of 31.2 MMbbls
· Proved + Probable (2P) reserves of 45.4 MMbbls
· Proved + Probable + Possible (3P) reserves of 58.0 MMbbls

As of 30 September 2019, and taking into account Tortue production of 4.5 MMbbls
up to that date, the total reserves at Dussafu have been revised upward and are
now estimated by NSAI to be:

· Proved (1P) reserves of 76.9 MMbbls
· Proved + Probable (2P) reserves of 112.4 MMbbls
· Proved + Probable + Possible (3P) reserves of 142.6 MMbbls

The 2P gross reserves at Dussafu have now therefore increased by 46.1 MMbbls, or
68%, compared to those reported at mid-year 2019. This increase is mainly
related to the Hibiscus discovery, but also from better than expected production
and recovery at Tortue.

Panoro also notes today’s announcement from the operator, BW Energy, where the
revision to the updated development plan for the third phase activities at
Dussafu is described. Now known as Ruche Phase 1, the development is planned to
consist of a platform located between the Ruche and Hibiscus fields. Ruche Phase
1 shall consist of four production wells at Hibiscus field and two wells at
Tortue fields, all to be drilled in the Gamba formation. Ruche Phase 2
development will target additional discovered resources through up to 7
production wells, with the objective to maintain the production plateau. The
capex for the revised Ruche Phase 1 incorporating the Hibiscus development is
now expected to be approximately USD 445 million (gross). Total field operating
costs including Ruche phase 1 are expected to be USD ~10/bbls excluding
royalties and taxes at current FPSO capacity. It is estimated by the operator
that the FPSO nameplate capacity of 40,000 bopd will be reached and exceeded
once Ruche phase 1 comes fully online.

John Hamilton, CEO of Panoro, commented: “The Hibiscus discovery demonstrates
the scale and quality of the Dussafu reserve base. It has positively transformed
the future developments at Dussafu in terms of reserves, production levels,
years of commerciality, and per-barrel operating costs. Panoro is excited and
looking forward to working alongside BW Energy, GOC and the government of Gabon
in order to sanction the refined development of the next phases at Dussafu.”

Enquiries

John Hamilton, Chief Executive Officer
Qazi Qadeer, Chief Financial Officer

Tel: +44 203 405 1060
Email: investors@panoroenergy.com

About Panoro Energy

Panoro Energy ASA is an independent E&P company based in London and listed on
the Oslo Stock Exchange with ticker PEN. The Company holds high quality
production, exploration and development assets in Africa, namely the Dussafu
License offshore southern Gabon, OML 113 offshore western Nigeria, and the TPS
operated assets, Sfax Offshore Exploration Permit and Ras El Besh Concession,
offshore Tunisia. For more information, please visit the Company’s website at
www.panoroenergy.com.

Kilde

[sulzrox]

Her var det mye godt nytt.

(Kan lure på hvorfor dei ikkje venta med emisjonen noen dager)

Bruttoproduksjonen fra Ruche fase 1 estimeres å doble seg fra 15.000 til 30.000 fat per dag. Disse volumene vil komme i tillegg til produksjonen fra Tortue-feltet.

Selskapet kan også melde at ledelsens estimat for Hibiscus-reservene er bekreftet av den uavhengig revisoren Netherland, Sewell & Associates. Reservene vurderes til 45,4 millioner fat olje (2P) brutto. Dette øker 1P, 2P og 3P i Dussafu-lisensen med hhv. 68, 68 og 69 prosent.

Den oppdaterte planen vil øke vår produksjonskapasitet betydelig, og ta oss over FPSO-ens nåværende 40.000 fat per dag.

BW Offshore spår dobling av produksjonen i Afrika

Meldingen fra BWO kan også leses
https://newsweb.oslobors.no/message/488089

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Panoro Energy - Registration of New Shares

Oslo, 31 October 2019 - Panoro Energy ASA (“Panoro” or the “Company” with OSE
Ticker “PEN”) is pleased to announce that the Register of Business Enterprises
has today registered the increase of share capital to include the issue of
…

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Private Placement shares announced on 22 October 2019. The Company’s new
registered share capital is NOK 3,439,992.90 divided into 68,799,858 shares,
each having face value of NOK 0.05.

This information is subject to the disclosure requirements pursuant to section 5
-12, section 4-2 and 4-4 of the Norwegian Securities Trading Act.

Enquiries

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

About Panoro Energy

Panoro Energy ASA is an independent E&P company based in London and listed on
the Oslo Stock Exchange with ticker PEN. The Company holds high quality
production, exploration and development assets in Africa, namely the Dussafu
License offshore southern Gabon, OML 113 offshore western Nigeria, and the TPS
operated assets, Sfax Offshore Exploration Permit and Ras El Besh Concession,
offshore Tunisia. For more information, please visit the Company’s website at
www.panoroenergy.com.

Kilde

[sulzrox]

På topp ti-listen, nærmere bestemt sjette største aksjonær, finner vi Solon-gründer Simen Thorsen. Gjennom investeringsselskapet Hortulan eier han om 3,63 prosent av de utestående aksjene i Panoro etter å ha kjøpt over 600.000 aksjer i forrige uke.

Ketil Skorstad som gjennom to Tigerstaden-selskap sitter på 1,70 prosent av de utestående aksjene i Panoro etter å ha kjøpt drøye 202.000 aksjer i forrige uke.

Tor Aksel Voldberg, gjennom investeringsselskapet Skøien, kjøpte 530.000 Panoro-aksjer i forrige uke, som nå utgjør hans eksponering mot oljeselskapet. Beholdningen tilsvarer 0,77 prosent av de utestående aksjene.

Bjellesauene flokker seg i Panoro Energy

[TekBot]

Panoro Energy (Oslo Ticker: PEN) - Invitation to Third Quarter results webcast 20 November 2019

Panoro Energy’s Q3 2019 report will be published on Wednesday, 20 November 2019
and will be available on our website http://www.panoroenergy.com at 07:30 a.m.
CET.
…

Vis børsmeldingen

The company will hold a live webcast presentation of the 3Q results at 09:00
a.m. CET on Wednesday 20 November 2019, during which management will discuss the
results and operations of the third quarter. After conclusion of the discussion,
participants will be invited to ask questions on the Q3 report.

The webcast can be accessed through the following link where a presentation will
be relayed in listen only mode. (http://view-w.tv/819-1577-22787/en)

Should the participants wish to ask questions, the audio of the webcast can be
accessed through the following calling numbers with the features to ask live
questions. Participants are requested to dial in five to ten minutes prior to
the start time using the numbers and password below:

Toll Free - Norway 800 19 457
Local - Oslo, Norway +47 2 156 3318
Toll Free - USA +1 866 966 5335
Local - New York, USA +1 212 999 6659

Toll Free - UK 0800 368 2555
Local - London, UK +44 (0) 203 037 9299
Password: Panoro

Participants dialling in from outside these countries may use the local UK or
USA number. A replay of the webcast will be available shortly after the event is
finished and will remain on our website for approximately 7 days.

Enquiries

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

About Panoro Energy

Panoro Energy ASA is an independent E&P company based in London and listed on
the Oslo Stock Exchange with ticker PEN. The Company holds high quality
production, exploration and development assets in Africa, namely the Dussafu
License offshore southern Gabon, OML 113 offshore western Nigeria, and the TPS
operated assets, Sfax Offshore Exploration Permit and Ras El Besh Concession,
offshore Tunisia.

For more information visit the Company’s website at www.panoroenergy.com.

Kilde

[roblar]

Hvilke forventninger har dere til Q3-rapporten den 20. november?

[TekBot]

Panoro Energy Announces Third Quarter 2019 Results and Provides Operations and Corporate Updates

Oslo, 20 November 2019 - Panoro Energy (the “Company” or “Panoro” with OSE
ticker: “PEN”) today announces the third quarter 2019 financial results and
subsequent events.
…

Vis børsmeldingen

John Hamilton, CEO of Panoro, commented: "Our transformation into a well
-balanced and diversified E&P company is reflected in our strong financials year
to date. Full year results will strengthen this trend with a particularly active
4th quarter lifting schedule anticipated.

Dussafu Phase 2 production drilling is underway with the next step up in
production occurring during the first half of 2020. The sizeable Hibiscus Updip
discovery is now to be incorporated into Phase 3 at Dussafu and will bring
production capacity beyond the current FPSO nameplate of 40,000 bopd. A new
exploration drilling campaign will also feature during 2020.

In Tunisia further production optimisation initiatives are ongoing and we are
progressing with the spudding of the Salloum West exploration well in early
2020.

We expect to complete our divestment of our Nigerian subsidiary to Petronor in
2020, which would allow Panoro to pay its first ever dividend in the form of
PetroNor shares to be distributed to our shareholders.

We look forward to realising the inherent organic growth in our current asset
portfolio over the next two years as we progress towards material cash
generation."

Highlights

· YTD Revenue of USD 40.8 million (3Q 2019: USD 10.2 million) and EBITDA of
USD 21.7 million (3Q 2019: 5.3 million), in line with liftings guidance
· Four liftings anticipated across the Group’s assets in 4Q, similar to 1Q
(versus two in each of 2Q and 3Q)
· YTD Group net average daily production of 2,456 bopd, with 3Q 2019 of 2,251
bopd (impacted by workover activity in Tunisia and Aje field shut-in during July
as previously disclosed)
· YTD Underlying operating profit before tax (Note 1) of USD 11.1 million (3Q
2019: USD 2.3 million) on an adjusted basis compared to reporting basis net
profit before tax of YTD USD 18.2 million (3Q 2019: USD 4.1 million)
· Cash balances at 30 September 2019, including cash held for bank guarantee
related to Sfax Offshore Exploration Permit (SOEP), at USD 20 million and gross
debt of USD 26.3 million
· Successful completion of private placement post period end in October
raising approximately USD 16 million
· Sale of Panoro’s interest in OML-113 to PetroNor for initial consideration
USD 10 million in shares, subject to customary conditions precedent

Dussafu

· YTD average gross daily production of approximately 12,108 with Q3 average
gross daily production of 11,650 bopd (Net to Panoro YTD: 1,009 bopd; 3Q 2019:
971 bopd)
· Tortue Phase 2 development drilling started in October 2019
· 2020 full year gross production guidance of 19,500 bopd with second half of
the year anticipated to average at 23,000 bopd
· Transformational Hibiscus Updip discovery 45.4 million gross 2P barrels
· Dussafu gross 2P reserves increased by 68% to 112.4 million barrels
· Dussafu Phase 3 improved through Hibiscus discovery with production capacity
expected above current FPSO nameplate capacity
· Dussafu phase 3 FID approved by Panoro, subject to JV partner approval

Tunisia

· YTD TPS average gross daily production of approximately 3,770 bopd with 3Q
2019 average gross daily production of 3,435 bopd (Net to Panoro YTD: 1,109
bopd; 3Q 2019: 1,010 bopd), the reduction caused by several well workovers
during the quarter
· Several well workover operations ongoing now and through January on wells
across three fields, with the goal of achieving our targeted production of 5,000
bopd
· Further production opportunities have been identified for 2020
· Rig contract signed with CTF, the Tunisian state-owned drilling company, for
drilling Salloum West Prospect in early 2020 with further planning well advanced

Aje

· YTD average net daily production of approximately 338 bopd with Q3 average
daily production at 270 bopd impacted by the field shut-in during July as
previously disclosed
· JV partners continue to focus on advancing the Turonian development plan

(Note 1) Non-GAAP financial measures

From first quarter 2019, the Group has enhanced its disclosures and introduced
the reporting of Underlying Operating Profit/(Loss) before tax, a Non-GAAP
Financial Measure. Underlying Operating Profit/(Loss) before tax is considered
by the Group to be a useful additional measure to help understand underlying
operational performance. The definition and details of this Non-GAAP measure can
be referred to on page 7 of the third quarter, 2019 report.

Panoro will hold a live webcast presentation of the 3Q results today at 09:00
a.m. CET, during which the Company will discuss the third quarter 2019 results.
The webcast can be accessed through the following link where a presentation will
be relayed in listen only mode. (http://view-w.tv/819-1577-22787/en). Questions
can also be submitted via this link and will be covered by management in the Q&A
session of the call.

Should the participants wish to ask questions on the call, the audio of the
webcast can be accessed through the following calling numbers with the features
to ask live questions.

Participants are asked to dial-in five to ten minutes prior to the start time
using the number and password below:

Toll Free - Norway 800 19 457
Local - Oslo, Norway +47 2 156 3318
Toll Free - USA +1 866 966 5335
Local - New York, USA +1 212 999 6659

Toll Free - UK 0808 109 0700
Local - London, UK +44 (0) 203 003 2666
Password: Panoro

Participants dialling in from outside these countries may use the UK or USA
number. A replay of the webcast will be available shortly after the event is
finished and will remain on our website for approximately 7 days.

Enquiries

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

About Panoro Energy

Panoro Energy ASA is an independent E&P company based in London and listed on
the Oslo Stock Exchange with ticker PEN. The Company holds high quality
production, exploration and development assets in Africa, namely the Dussafu
License offshore southern Gabon, OML 113 offshore western Nigeria, and the TPS
operated assets, Sfax Offshore Exploration Permit and Ras El Besh Concession,
offshore Tunisia.

For more information visit the Company’s website at www.panoroenergy.com.

Kilde

[sulzrox]

Dette blir bra.

Q3 presentajonen:

8c1657a7fba5a9ad.pdf

edit:
Kjøpt ein trade her på ma 50

Edit 2:
Overrasket analytiker

Analytiker Teodor Sveen-Nilsen i SpareBank 1 Markets skriver til sine kunder onsdag at mens tallene var omtrent som ventet, var guidingen meget interessant:

«Vi ble oppmuntret av forventningene for 2020 på produksjon og kontantstrøm. Vi lar estimatene våre være uendrede for nå, men det er ingen tvil om at det er oppsidepotensial hvis selskapet når 2022-målene sine», skriver analytikeren.

Panoro Energy skal nå 100 millioner dollar i 2022

[sulzrox]

Arctic har forandra kursmål fra 40 til 42 kr etter Q3 rap.
Fast utbytte fra seinest 2022.
Dette basert med oljepris på 60.

Pareto har forandra kursmål fra 26 til 23 kr etter Q3 rap. ( med oljepris på 65 )

[the1nonly]

Litt på sidelinjen, men hvordan kan to “proffesjonelle” aktører komme frem til to så vidt forskjellige svar?

[sulzrox]

hvordan kan to “proffesjonelle” aktører komme frem til to så vidt forskjellige svar?

Fordi det er tipping etter beste evne. Vektleger forskjellige ting og har forskjellig syn på fremtiden. Kursmåle som dei kommer med er egentlig mindre interessant, det som er interessant er det som står i analysene.
Men vi folk liker å få eit kursmål (enkelt) og beskjed om vi skal selge eller kjøpe. Taper vi kan vi unnskylde oss med at tilogmed dei profesjonelle bommet og vi er ikkje ålene med å ta feil. Vi hadde kun uflaks. Ikkje min feil eller mitt ansvar.

[sulzrox]

Da ønsker vi ikkje flere sluttkurser under 50ma. Skulle den close under 50ma, må den umiddelbart gå over igjen.