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Panoro energy asa (pen.ol)

pen_ol
Investeringer: #<Tag:0x00007ff294361bc0>

#21

Successful Drilling and Completion of Second Production Well at Dussafu
Oslo, 26 June 2018 - Panoro Energy (the “Company” or “Panoro” with OSE ticker:
“PEN”) is pleased to announce the successful drilling and completion of the
second development well, DTM-3H, located in the Tortue field, within the Dussafu
PSC, offshore Gabon.

The drilling of DTM-3H oil production well commenced in May 2018 and has now
been successfully completed with no safety-related incidents, on schedule and
within budget. Interpretation of the logging results indicates that the well was
entirely consistent with pre-drill prognosis and objectives. DTM-3H was drilled
and completed as a horizontal production well in the Gamba reservoir and
encountered a long horizontal section of oil saturated Gamba sandstone as
prognosed. The well has been suspended pending arrival and hook up to the FPSO
in the third quarter 2018.

The rig will now move to drill the Ruche North East well, DRNEM-1, which is
targeting an undrilled 4-way structure in the Gamba reservoir with Dentale
potential. The DRNEM-1 well will be located approximately 3.5 km north east of
the Ruche field in water depths of 117m. DRNEM-1 is expected to take
approximately 40 days to drill. The objective of the well is to prove up
additional resources in the greater Ruche area, to be aggregated with the
existing Ruche field (which was discovered by Panoro in 2011) to form the basis
of future development phases.

John Hamilton, Chief Executive Officer Panoro Energy said: “We are very pleased
with the result of this second production well, which has come in on prognosis
and is a key de-risking milestone in the Phase 1 development at Dussafu. We now
look forward to start drilling the Ruche North East well in order to continue
unlocking the considerable exploration potential at Dussafu”.
Enquiries:

Panoro Energy ASA +44 203 405 1060
John Hamilton, Chief Executive Officer [email protected]
About Panoro Energy


#22

Hvor er det blitt av TekBot’en?:wink:


#23

Vil Tullow benytter Back-in rettigheter?
Viss vi seier historiske kostnader på Dussafu før BWO er 400 mUSD. Her får PEN 33% av historisk kostnad.
400 * 10% = 40 mUSD som Tullow må betale for 10%. Av dette får PEN 33% som blir 13,2 mUSD.
Viss vi seier kostnad etter BWO og frem til first oil er 170 mUSD. Her får PEN 8,33% av kostnaden.
170 * 10% = 17 mUSD som Tullow må betale for 10%. Av dette får PEN 8,33% som blir 1,4 mUSD.

PEN får totalt 14,6 mUSD og andelen blir redusert frå 8,33% til 7,5%.

Det skulle vel sei at Tullow verdsette Dussafu til 570 mUSD ved first oil.
570 * 7,5% = 42,75 mUSD (7,5% PEN sin nye andel av Dussafu)
PEN skal da være verdt 42,75 + 14,6 = 57,35 mUSD
57,35 * 8 (doller kurs) = 458,8 mNOK ( så kommer AJE pluss diverse i tillegg)
458,8 / 42.5 = 10,8kr per aksje.

Viss eg har regnet rett, så kan eg ikkje forstå ant enn Tullow vil bruke sin Back-in rettighet.


#24

Hvornår får vi information om AJE?


#25

AJE blir enten solgt for små peng eller så tipper eg det vil ta fleire år før noe skjer. AJE er berre katastrofe for nå.


#26

Acquisition of DNO Tunisia AS and Contemplated Private Placement
http://hopey.netfonds.no/release.php?id=20180628.OBI.20180628S68

Oslo, 28 June 2018 - Panoro Energy (the “Company” or “Panoro” with OSE ticker:
“PEN”) is pleased to announce the signing of a Sale and Purchase Agreement
(“SPA”) for the acquisition of DNO Tunisia AS from DNO ASA (“DNO”) (“the
Transaction”).

Panoro is concurrently launching an equity private placement of up to 4.25
million new shares and a potential additional sale of up to 1 million existing
treasury shares (the “Private Placement”), pursuant to the authorisation given
by the Annual General Meeting held on 24 May 2018. DNO has also agreed to
subscribe for a significant portion of the Private Placement. The price per
share is set at NOK12.82 per share, a 3.6% discount to the closing price on 27
June 2018, and equivalent to the Volumetric Weighted Average Price of Panoro
shares over the past 30 trading days.

John Hamilton, Chief Executive Officer Panoro Energy said: “This acquisition
represents a substantial milestone and the continuation of Panoro’s strategy to
build a balanced full-cycle E&P company focused on Africa. We are very excited
to enter into this transformational deal with DNO in a stable jurisdiction like
Tunisia. The Salloum discovery in particular is a low-cost development
opportunity; the wider portfolio contains material exploration potential. This
transaction also complements our existing E&P portfolio bringing a pipeline of
new projects and significantly enhancing our operating capability through the
skilled team based in Tunisia.”

“The equity private placement combined with the acquisition of DNO Tunisia AS
will materially strengthen Panoro’s financial position for Phase 2 of Dussafu in
Gabon and its growth plans in Tunisia.”

Transaction Summary

DNO Tunisia AS holds 3 offshore assets: Sfax Offshore Exploration Permit, Ras El
Besh Concession, and Hammamet Offshore Permit. Each of those assets has existing
oil discoveries and material exploration upside. Panoro plans to secure an
extension or renewal of the Sfax Offshore Exploration Permit, where Panoro
intends to fast-track the development of the very shallow water Salloum oil
discovery (ca 5 million barrels recoverable and tested at 1848 bopd).

The main terms of the Transaction include:

· Panoro to acquire DNO Tunisia AS (a Norwegian company holding DNO’s business
in Tunisia) for no cash consideration
· Panoro to assume all existing permit interests, rights and unfulfilled work
obligations
· Panoro to secure a full operational and experienced organisation with strong
local knowledge and operating capabilities, as well as local offices, warehouses
and drilling inventory
· Panoro to retain a cash balance of approx. USD 8.6 million in DNO Tunisia AS
at completion, reflecting DNO’s partial contribution towards the remaining work
obligations
· DNO to maintain exposure to the Tunisian assets and support Panoro’s ability
to develop and unlock value through subscription for Panoro shares in the
Private Placement in a NOK amount equivalent to USD 4.15 million at a pre-agreed
subscription price of NOK 12.82 per share
· DNO to receive a deferred consideration up to a maximum of USD 13.2 million,
paid through future production from the operated Sfax Offshore Exploration
Permit

Panoro’s website contains an updated corporate presentation with a further
overview of the Transaction.

A conference call for investors will be held at 8:30 CET on Friday 29 June 2018.
Details of the call will be announced separately.

The Transaction does not involve any agreements or expected agreements to the
benefit of management or board members.

The Transaction is subject to the fulfilment of certain customary closing
conditions. Panoro expects that the Transaction will close by no later than 20
business days from this announcement, but no assurances can be given that the
conditions will be fulfilled and that the Transaction will be completed.

The Private Placement

Panoro has retained SpareBank 1 Markets AS (the “Manager”) to assist the Company
in the Private Placement. The subscription price in the Private Placement has
been set at NOK 12.82 per share. The book-building period will commence today 28
June at 16:30 hours (CET) and close tomorrow 29 June 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 are available.

DNO is subscribing for USD 4.15 million (NOK equivalent) in Panoro shares in the
Private Placement and include the following terms:

· Shares subscribed by DNO will be subject to a standard lock-up obligation
for 6 months
· 1-year standstill agreement where DNO has agreed not to go above a 9.9%
shareholding in Panoro
· No Board representation for a 12-month period

Panoro is seeking to raise up to the balance of the 10% threshold in the Private
Placement (approximately USD 2.5 million) from existing shareholders and new
investors. Subject to demand, Panoro will also consider the sale of up to 1
million additional treasury shares held by the Company pursuant to the share buy
-back transactions completed in 2017.

The net proceeds from the Private Placement will be used for general corporate
purposes, including:

· Dussafu Phase 2 capital spend (reserve-based loan facilities as well as pre
-financing oil solutions provided by oil traders being considered in parallel)
· Working capital for Dussafu oil production
· Development of Tunisian portfolio
· Further business development opportunities

The completion of the Private Placement and final allocation of shares is
subject to the sole discretion and approval by the Board of Directors. Further,
completion of the Private Placement will be subject to the closing of the
Transaction.

The Company will announce the final number of shares placed and sold in the
Private Placement in a stock exchange announcement expected to be published at
the latest before opening of trading on the Oslo Stock Exchange tomorrow, 29
June 2018.

The following primary insiders have applied for and will be allocated shares in
the Private placement at the subscription price: Julien Balkany (Chairman) or
investment funds controlled by him, 345,000 shares, Torstein Sanness (Director)
35,000 shares, and Hilde Ådland (Director) 3,900 shares.

SpareBank 1 Markets AS (the “Manager”) is acting as sole manager in the Private
Placement.

Michelet & Co Advokatfirma AS is acting as legal advisor for Panoro in
connection with the Transaction and Private Placement.

Panoro’s Rationale for Entering Tunisia

The Transaction is consistent with the management’s strategy to build a well
-balanced and diversified full-cycle E&P company.

Tunisia is an established oil and gas producer with decades of hydrocarbon
production. Tunisia benefits of a stable regulatory and fiscal system, which has
attracted large international oil companies with long in country presence (i.e.
ENI, Shell, Perenco, Petrofac). ETAP, the National Oil Company, is professional
counterparty and involved in all concessions. International and domestic service
companies are active in country, with additional services able to be sourced
from neighbouring countries (Algeria). Some larger international oil companies
active in Tunisia are considering refocusing their respective portfolios,
creating acquisition-opportunities for more entrepreneurial companies to
increase low-cost production and efficiency.

All DNO’s operational, technical, financial and administrative personnel based
in Tunisia are expected to transition into Panoro, allowing for an immediate and
smooth integration. The in-country team provides Panoro with the ability to
leverage the depth of expertise and local knowledge in order to achieve its
ambitious in-country growth objectives.

Julien Balkany, Chairman of Panoro, commented: “The acquisition of DNO Tunisia
is a major step in the execution of Panoro’s growth strategy. It provides Panoro
with an immediately functional and sizeable platform to take advantage of future
low-cost producing growth opportunities in Tunisia. Panoro intends to continue
evaluating and pursuing highly accretive and very selective deals in Gabon and
Tunisia to increase its production and deliver strong shareholder return.”


#27

Og der var det ferdig.

“”"
The Board of Directors (the “Board”) of the Company is pleased to announce that
Panoro has successfully completed bookbuilding for the Private Placement with
the support of new and existing investors, raising gross proceeds of USD 6.7
million through the subscription and allocation of 4,250,219 new shares (the
“New Shares”) at a subscription price of NOK 12.82 per share (the “Subscription
Price”).

The Private Placement was significantly oversubscribed and generated strong
demand from international investors. The Company therefore decided to increase
the size of the Private Placement and place 1,000,000 shares that were held in
treasury (the “Treasury Shares”) at the same Subscription Price raising
additional gross proceeds of USD 1.6 million. As a result Panoro is altogether
raising gross proceeds of approximately USD 8.3 million.

The Subscription Price has been set fixed at NOK 12.82 per share representing
the Company’s 30 trading-day volume weighted average share price, a slight
premium to today’s closing price.This will result in the issuance of 4,250,219
New Shares. Following the closing of the Private Placement, the number of
outstanding common shares in the Company will be 46,752,415. Closing of the
Private Placement is expected to occur with 20 business days and subject to
completion of the acquisition of DNO Tunisia AS (the “Transaction”).

DNO is subscribing for 2,641,465 New Shares at the Subscription Price and
subject to the completion of the Transaction, will hold the equivalent of 5.65%
of the total enlarged outstanding shares of Panoro.

A number of Directors of Panoro including its Chairman Julien Balkany have also
participated in the Private Placement.

“”"

http://hopey.netfonds.no/release.php?id=20180628.OBI.20180628S78


#28

Denne må leses. Mye nytt
http://www.panoroenergy.com/wp-content/uploads/2018/06/Panoro-Energy-Corporate-Presentation-June-2018.pdf


#29

Her er ein analyse på AJE: http://www.alignresearch.co.uk/wp-content/uploads/2018/07/MX_Oil_Align_Initiation_July_2018.pdf
Men les den med forsiktighet. Eg legger ikkje vekt på AJE når eg holder PEN, det er kun Dussafu for meg. (heller ikkje Tunisia)

Analysen henta fra hegnar ( https://nytt.forum.hegnar.no/thread/6587/view/101952 ) hvor den også blir diskutert. Ser helloween antyder 40 kr kun for AJE.

Hva som er viktig nå er first oil :slight_smile:


#30

Når skal vi ha ein pause?
Hadde forventa pause frem til first oil. Kanskje test av 50ma. Greit nok har vi hatt emisjon og DNO er komet inn som større eigar men syns det går litt fort?
Kan det være AJE rapporten til Align eller DNO som eks kjøper?


#31

Bekrefter MX Oil rapporten fra Align?
Ikkje veit eg men skal ikkje sjå bort fra at her kan det vær noe. Isåfall skal vi få svar før 2019.
Faller alt på plass så ser eg for meg aksjekursen i 2020 til minimum 70. Men vi er nok oppkjøpt før den tid. Evt ting blir solgt ut etter kvart.




#32

Finner vi støtte her ved tidligere topp og MA 20 eller skal vi ned til MA 50.
Trenden er forsatt opp.


#33

plukka litt her idag jeg , tror det er tid for rekyl nå :slight_smile:


#34

Panoro Energy Announces Closing of the Acquisition of DNO Tunisia AS

Oslo, 30 July 2018 - Reference is made to the three stock exchange notices
published by Panoro Energy ASA (“Panoro”, or the “Company”) on 28 June 2018
regarding Panoro’s acquisition of DNO Tunisia AS and successful completion of
the oversubscribed book-building of the equity private placement (the “Private
Placement”).

Panoro is pleased to announce that the Company has today completed the
acquisition of DNO Tunisia AS and all the conditions have been met to proceed
with the settlement of the Private Placement, issue of new shares and delivery
of treasury shares.

John Hamilton, CEO of Panoro, said: “We are very excited to have closed this
transformational transaction with DNO. This acquisition complements our existing
E&P portfolio, bringing with it a pipeline of new projects. Our operating
capability is greatly enhanced by the skilled team based in Tunisia which will
assist us in achieving our ambitious in-country growth objectives”.

For further information, please contact:

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

Tel: +44 203 405 1060
Email: [email protected]

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.

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 Sfax
Offshore Exploration Permit, the Ras El Besh Concession, and the Hammamet
Offshore Exploration Permit offshore Tunisia.

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

Ekstern link: http://www.newsweb.no/index.jsp?messageId=456303

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20180730.OBI.20180730S37


#35

Panoro Energy - Private Placement Update and Notification of Mandatory Trades

Panoro Energy - Private Placement Update and Notification of Mandatory Trades
Oslo, 30 July 2018 - Reference is made to the three stock exchange notices
published by Panoro Energy ASA (“Panoro”, or the “Company”) on 28 June 2018
regarding Panoro’s acquisition of DNO Tunisia AS and successful completion of
the oversubscribed book-building of the equity private placement (the “Private
Placement”).

Panoro is pleased to announce that further to the closing of the acquisition of
DNO Tunisia AS the Company will proceed with the settlement of the Private
Placement, issue of new shares and delivery of treasury shares.

As part of the settlement of the Private Placement, the Company’s board of
directors has utilised its authority to issue new shares. Consequently, the
Board of Directors (the “Board”) has resolved to issue 4,250,219 new shares each
at NOK 12.82 per share to the subscribers of Private Placement. Existing
shareholders’ pre-emptive rights had been set aside in order to facilitate a
placement directed towards certain investors. As previously stated, the Board
believes this is in the best interests of the Company as a rights issue normally
results in a lower subscription price, higher costs and takes longer to
complete.

In addition, the Board has resolved to allot and sell 1,000,000 treasury shares,
at a price of NOK 12.82 per share, which together with the Private Placement
will raise an equivalent of approximately USD 8.3 million in gross proceeds. The
settlement is subject to payment for the shares and expected at or about 6
August 2018 when new shares are expected to be registered, issued and listed.
Following issuance and registration of the new shares the issued and outstanding
share capital of the Company will be NOK 2,337,620.75 divided into 46,752,415
shares each having a par value of NOK 0.05.

DNO ASA has participated in the Private Placement with a subscription of
2,641,465 shares, which is equivalent to approximately 5.65% of the total
enlarged outstanding shares of the Company.

Panoro’s primary insiders have also subscribed to new shares in the Private
Placement and will have the following position at the time of settlement:

Julien Balkany, Non-executive Chairman and member of the Board: 325,000 shares.
In total, Julien Balkany through his affiliates, directly and indirectly
controls 2,681,253 shares, representing approximately 5.73% of the total
enlarged outstanding shares of the Company, and has no share options or
Restricted Share Units in the Company.

Torstein Sanness, member of the board of directors: 35,000 shares. In total, Mr.
Sanness owns 70,000 shares and has no share options or Restricted Share Units in
the Company.

Hilde Ådland, member of the board of directors: 3,900 shares. In total, Ms.
Ådland owns 3,900 shares and has no share options or Restricted Share Units in
the Company.

For further information, please contact:

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

Tel: +44 203 405 1060
Email: [email protected]

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.

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 Sfax
Offshore Exploration Permit, the Ras El Besh Concession, and the Hammamet
Offshore Exploration Permit offshore Tunisia.

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

Ekstern link: http://www.newsweb.no/index.jsp?messageId=456304

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20180730.OBI.20180730S38


#36

DNO ASA: Disclosure of Holdings

Oslo, 30 July 2018 - DNO ASA, the Norwegian oil and gas operator, today
announced it has subscribed to 2,641,465 shares in Oslo-listed Panoro Energy ASA
at a price of NOK 12.82 per share.

Following this transaction, DNO holds 2,641,465 shares in Panoro, representing
5.65 percent of the outstanding shares.

For further information, please contact:
Media: [email protected]
Investors: [email protected]
Tel: +47 911 57 197

DNO ASA is a Norwegian oil and gas operator focused on the Middle East and the
North Sea. Founded in 1971 and listed on the Oslo Stock Exchange, the Company
holds stakes in onshore and offshore licenses at various stages of exploration,
development and production in the Kurdistan region of Iraq, Norway, Oman, the
United Kingdom and Yemen.

This information is subject to the disclosure requirements pursuant to section
4-3 of the Norwegian Securities Trading Act.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=456306

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20180730.OBI.20180730S40


#37

PANORO ENERGY - REGISTRATION OF NEW SHARES

Oslo, 02 August 2018 - Panoro Energy ASA (“Panoro” or the “Company”) is pleased
to announce that the Register of Business Enterprises has today registered the
increase of share capital to include the issue of Private Placement shares
announced on 30 July 2018. The Company’s new registered share capital is NOK
2,337,620.75 divided into 46,752,415 shares, each having face value of NOK 0.05.

Enquiries:

Qazi Qadeer, Chief Financial Officer
Tel: +44 203 405 1060
Email: [email protected]

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.

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 Sfax
Offshore Exploration Permit, the Ras El Besh Concession, and the Hammamet
Offshore Exploration Permit offshore Tunisia.

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

Ekstern link: http://www.newsweb.no/index.jsp?messageId=456436

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20180802.OBI.20180802S16


#38

Ikkje noe nytt her og dårlig intervju men greit nok.


#39

Panoro Energy - Awards and exercise under RSU program and mandatory notification of trades

Oslo, 06 August 2018 - Panoro Energy ASA (the “Company” or “Panoro” with OSE
ticker: “PEN”) announces awards and exercise of Restricted Share Units (“RSUs”)
and notification of primary insider trades.

Awards of RSUs

For the year 2018, the Board of Directors have granted 376,333 RSUs to the key
employees of the Company under the Long-Term Incentive Plan (“LTIP”) approved by
the shareholders at the 2018 Annual General Meeting. The awards are based on
specific performance criteria as previously approved by the Board of Directors.

One RSU will entitle the holder to receive one share in the Company against
payment in cash of the par value for the share. The par value is currently NOK
0.05 per share. Vesting of these RSUs is time based, over a period approved by
the Board of Directors. The vesting period of the RSUs is up to 14 June 2021,
where 1/3 of the RSUs vest on 14 June 2019 (the “First Tranche”), 1/3 vest after
1 year of the vesting of the First Tranche, and the final 1/3 vest after 2 years
from vesting of the First Tranche. RSUs are exercised automatically at the
respective vesting dates and the holder will be issued the applicable number of
shares as soon as possible thereafter.

Of the 376,333 RSUs, the primary insiders have been granted the following:

  •        John Hamilton, the Chief Executive Officer of the Company has been
    

granted 196,304 RSUs.

  •        Richard Morton, the Technical Director of the Company has been
    

granted 63,002 RSUs.

  •        Qazi Qadeer, the Chief Financial Officer of the Company has been
    

granted 63,002 RSUs.

  •        Laurence Keech, the Financial Controller of the Company has been
    

granted 39,748 RSUs.

Exercise of existing RSUs - settlement

Under the Company’s LTIP, 206,667 RSUs from the year 2016-17 grants have today
vested and have been automatically exercised. In accordance with the terms and
conditions of the RSUs, for this tranche the Board of Directors have decided to
settle 50% of the exercised RSUs in cash and 50% in new shares. A total of
55,185 new shares will be issued as part of the exercise of the 206,667 RSUs.
The cash settlement will for each of the exercised RSU after taking into be the
difference between NOK 0.05 (being the face value of the shares) and NOK 15.8149
(being the volume-weighted average price of the Company’s shares on 03 August
2018, i.e. NOK 15.7649 per share. The settlement in new shares and cash have
been determined after taking into account the employee tax liability arising on
the exercise of RSUs.

Consequently, the Board has today utilized it authorization to issue new shares
to pass a resolution to issue 55,185 new shares, each at a subscription price of
NOK 0.05. Existing shareholders’ pre-emptive rights to subscribe the shares have
been set aside in order for the Company to meet its obligations under the RSU
program. Following registration of the share issue, the Company’s registered
share capital will be NOK 2,340,380, divided into 46,807,600 shares, each having
a face value of NOK 0.05.

The total settlement of shares and cash amount is allocated as follows:

John Hamilton, Chief Executive Officer has exercised 99,999 RSUs and has
received 26,500 new shares and NOK 1,158,704.39 in cash settlement.

Richard Morton, Technical Director has exercised 40,000 RSUs and has received
10,600 new shares and NOK 463,488.06 in cash settlement.

Qazi Qadeer, Chief Financial Officer has exercised 50,001 RSUs and has received
13,251 new shares and NOK 579,360.08 in cash settlement.

Laurence Keech, Financial Controller has exercised 16,667 RSUs and has received
4,834 new shares and NOK 186,546.06 in cash settlement.

Following this settlement and award of new RSUs, the Company will have a total
of 723,000 outstanding RSUs. The funds from cash settlements have been entirely
used to settle taxes due on vesting and on an after-tax basis, the acquisition
of 55,183 new shares in the market. (Please see “Mandatory notification of
trades” below).

Mandatory notification of trades

Key management, being primary insiders of Panoro, have agreed to use their
respective cash settlements, after deducting applicable income tax obligations
arising on exercise of the RSUs as set out above, to acquire Panoro shares in
the market. Hence, today the following primary insiders have acquired shares as
follows:

John Hamilton, Chief Executive Officer has today acquired 26,500 shares at NOK
16.2337 per share. Following this and including the allocation of new shares,
Mr. Hamilton controls 157,901 shares in the Company’s enhanced share capital and
holds 362,972 RSUs awarded under the LTIP which, subject to fulfilling the
vesting conditions, entitles Mr. Hamilton to 362,792 shares in the Company.

Richard Morton, Technical Director has today acquired 10,600 shares at NOK
16.2337 per share. Following this and including the allocation of new shares,
Mr. Morton controls 112,414 shares in the Company’s enhanced share capital and
holds 129,669 RSUs awarded under the LTIP which, subject to fulfilling the
vesting conditions, entitles Mr. Morton to 129,669 shares in the Company.

Qazi Qadeer, Chief Financial Officer has today acquired 13,250 shares at NOK
16.2337 per share. Following this and including the allocation of new shares,
Mr. Qadeer controls 68,351 shares in the Company’s enhanced share capital and
holds 146,335 RSUs awarded under the LTIP which, subject to fulfilling the
vesting conditions, entitles Mr. Qadeer to 146,335 shares in the Company.

Laurence Keech, Financial Controller has today acquired 4,833 shares at NOK
16.2337 per share. Following this and including the allocation of new shares,
Mr. Keech controls 10,922 shares in the Company’s enhanced share capital and
holds 69,747 RSUs awarded under the LTIP which, subject to fulfilling the
vesting conditions, entitles Mr. Keech to 69,747 shares in the Company.

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

Enquiries:

Panoro Energy ASA +44 203 405 1060
Qazi Qadeer, Chief Financial Officer [email protected]

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 Sfax
Offshore Exploration Permit, the Ras El Besh Concession, and the Hammamet
Offshore Exploration Permit offshore Tunisia. For more in

Ekstern link: http://www.newsweb.no/index.jsp?messageId=456590

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20180806.OBI.20180806S51


#40

https://www.hegnar.no/Nyheter/Boers-finans/2018/08/Anbefaler-aksje-advarer-mot-hoey-risiko2