Panoro Energy ASA announced that Lars Brandeggen has decided to step down as a member of the board of directors of Panoro at the annual general meeting that will be held on 27thMay, 2015. In his resignation, Mr. Brandeggen cites potential conflicts of interest due to other engagements. The nomination committee proposed the election of Garrett Soden to the board.

Mr. Soden has experience across the natural resources sector in government, investment banking and public company management. He has been working with the Lundin Group of Companies since 2007 as a senior executive and board member. Mr. Soden is chairman of the board and former chief executive officer of RusForest AB.

He is also a board member of Etrion Corporation, Chile and Japan. Mr. Soden is the former chief financial officer of Etrion and PetroFalcon Corporation. He was previously an equity research analyst covering oil and gas companies for Lehman Brothers in New York and a financial analyst in the M&A group at Salomon Brothers in New York.

Mr. Soden also previously served in the White House at the National Economic Council and was Senior Policy Advisor to the U.S. Secretary of Energy.