Panoro Announces Closing of Acquisition of OMV Tunisia Upstream GmbH

Panoro Tunisia Production AS ("PTP", 60% owned) now holds an indirect 49% interest in five oil producing concessions in Tunisia with net 2P reserves of 8.1 million barrels as at July 1, 2018, and current net production of approximately 2,000 bopd from 14 wells. PTP also indirectly owns 50% of Thyna Petroleum Services S.A. ("TPS"), the experienced Tunisian based operating company for the five oil producing concessions.

OSLO, Norway, 21/12/2018 (informazione.news - comunicati stampa - energia)

Panoro Tunisia Production AS ("PTP", 60% owned) now holds an indirect 49% interest in five oil producing concessions in Tunisia with net 2P reserves of 8.1 million barrels as at July 1, 2018 , and current net production of approximately 2,000 bopd from 14 wells. PTP also indirectly owns 50% of Thyna Petroleum Services S.A. ("TPS"), the experienced Tunisian based operating company for the five oil producing concessions.

John Hamilton , Chief Executive Officer of Panoro said: 

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. 

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

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