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    PEN   NO0010564701

PANORO ENERGY ASA

(PEN)
  Report
Real-time Oslo Bors  -  10:25 2022-11-30 am EST
30.36 NOK   -0.72%
11/30Transcript : Panoro Energy ASA, Q3 2022 Earnings Call, Nov 30, 2022
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11/23Panoro Energy - Invitation to Third Quarter 2022 results presentation
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Panoro Energy - Commencement of Operations on Gazania-1 Exploration Well Offshore South Africa

10/04/2022 | 02:02am EST

Oslo, 4 October 2022 - Panoro Energy ASA ("Panoro" or the "Company") notes that Eco Atlantic as operator of Block 2B offshore South Africa (Panoro working interest 12.5%), has today announced the arrival of the Island Innovator semi-submersible drilling rig on Block 2B and the commencement of operations on the Gazania-1 exploration well.

The Gazania-1 exploration well is being drilled in approximately 150 metres of water and is located 25 kilometres offshore the Northern Cape in the Orange Basin. The well is located up-dip of the AJ-1 oil discovery well drilled on the block in 1988 and is targeting a gross prospective resource of over 300 million barrels across multiple zones.

Panoro's joint venture partners and their working interests on Block 2B are Eco Atlantic (50%, operator), Africa Energy Corp (27.5%) and Crown Energy AB (10%).

Enquiries

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

About Panoro Energy

Panoro Energy ASA is an independent exploration and production company based in London and listed on the main board of the Oslo Stock Exchange with the ticker PEN. Panoro holds production, exploration and development assets in Africa, namely a producing interest in Block-G, offshore Equatorial Guinea, the Dussafu License offshore southern Gabon, the TPS operated assets, Sfax Offshore Exploration Permit and Ras El Besh Concession, offshore Tunisia and participation interest in an exploration Block 2B, offshore South Africa.

Visit us at www.panoroenergy.com.

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https://news.cision.com/panoro-energy-asa/r/panoro-energy---commencement-of-operations-on-gazania-1-exploration-well-offshore-south-africa,c3641790

https://mb.cision.com/Main/399/3641790/1633998.pdf

(c) 2022 Cision. All rights reserved., source Press Releases - English

Stocks mentioned in the article
ChangeLast1st jan.
AFRICA ENERGY CORP. -6.98% 0.2 Delayed Quote.-18.37%
ECO (ATLANTIC) OIL & GAS LTD. 0.00% 0.36 Delayed Quote.2.86%
PANORO ENERGY ASA -0.72% 30.36 Real-time Quote.40.56%
All news about PANORO ENERGY ASA
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11/18Eco (Atlantic) Oil & Gas, Africa Energy To Abandon Gazania-1 Well Offshore South Africa
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More news
Financials (USD)
Sales 2022 189 M - -
Net income 2022 57,0 M - -
Net Debt 2022 33,5 M - -
P/E ratio 2022 7,72x
Yield 2022 0,25%
Capitalization 640 M 640 M -
EV / Sales 2022 3,56x
EV / Sales 2023 1,78x
Nbr of Employees 29
Free-Float 82,1%
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Mean consensus BUY
Number of Analysts 3
Last Close Price 3,05 $
Average target price 4,27 $
Spread / Average Target 39,9%
EPS Revisions
Managers and Directors
John Andrew Hamilton Chief Executive Officer
Qazi Qadeer Chief Financial Officer
Julien Guillaume Balkany Chairman
Richard Morton Technical Director
Alexandra A. Herger Independent Non-Executive Director
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