Company Overview

Panoro Energy ASA is an independent oil and gas exploration and production company focused on Africa, with its core activities centered on the appraisal, development, and production of offshore and onshore hydrocarbon assets. The company operates within the upstream energy sector and generates revenue primarily from crude oil production and sales from producing fields. Panoro Energy is publicly listed on the Oslo Stock Exchange and trades in the U.S. via the OTC market under the ticker PESAF.

The company’s portfolio is concentrated in mature and near‑field development assets where it applies a strategy of value creation through field redevelopment, infill drilling, and disciplined capital allocation. Panoro Energy was originally established as an exploration‑focused company but evolved into a production‑oriented operator and partner following a series of asset acquisitions in the late 2010s, which shifted its business model toward cash‑flow‑generating operations.

Business Operations

Panoro Energy’s operations are organized around upstream oil and gas activities, including exploration, development, and production. The company’s revenue is primarily derived from its working interests in producing oil fields, with lifting, transportation, and sales conducted through established offtake arrangements. Its core producing assets are located offshore Gabon, Equatorial Guinea, and Tunisia, where Panoro holds non‑operated and operated interests alongside national oil companies and international partners.

The company controls a portfolio of licenses and production sharing contracts and leverages subsea infrastructure, floating production facilities, and established export routes to market crude oil. Panoro Energy operates through local subsidiaries in each jurisdiction and works in partnership with host governments and joint‑venture partners to manage field development, drilling programs, and ongoing production optimization.

Strategic Position & Investments

Panoro Energy’s strategy emphasizes organic growth through field redevelopment, reserve maturation, and selective exploration near existing infrastructure. The company has pursued acquisitions of producing and late‑life assets where it sees potential for operational improvements, reserve upside, and extended field life, enabling rapid cash‑flow generation and debt reduction.

Notable investments include interests in the Dussafu Marin Permit in Gabon, the Block G assets offshore Equatorial Guinea, and producing concessions in Tunisia. Panoro has also maintained exposure to higher‑risk, higher‑reward exploration through offshore acreage in South Africa, positioning the company for potential long‑term growth tied to emerging offshore basins.

Geographic Footprint

Panoro Energy operates exclusively in Africa, with its headquarters in Oslo, Norway, serving as the corporate and strategic management center. The company’s producing and development assets are primarily located in West Africa and North Africa, with offshore operations forming the majority of its production base.

Its geographic footprint includes active production and development activities in Gabon, Equatorial Guinea, and Tunisia, as well as exploration exposure in Southern Africa. Through its investments and partnerships, Panoro maintains a sustained operational presence across multiple African jurisdictions while remaining a relatively small, regionally focused upstream producer.

Leadership & Governance

Panoro Energy is led by an executive team with experience in international upstream operations, asset development, and capital markets. The company emphasizes disciplined capital allocation, operational efficiency, and alignment with shareholder interests as core elements of its leadership philosophy.

Key executives include:

• John Hamilton – Chief Executive Officer
• Torill Standal Andersen – Chief Financial Officer

The board of directors and executive management oversee corporate governance, risk management, and strategic execution, with a focus on maintaining regulatory compliance in all operating jurisdictions and delivering sustainable value from the company’s African asset base.