PetroNor E&P ASA (OB:PNOR) acquired 100% stake in OML 113 in Aje field from Panoro Energy ASA (OB:PEN) and ADM Energy plc (AIM:ADME) for $26.17 million on July 13, 2022. Consideration comprises upfront consideration of USD 10 million, with a contingent consideration of up to USD 16.67 million based on future gas production volumes. Following completion, PetroNor holds a 6.502% participating interest, with 16.255% cost bearing interest, representing an economic interest of 12.1913% in OML 113. As of July 14, 2022, PetroNor has completed its purchase of Pan-Petroleum Nigeria Holding and Pan-Petroleum Services Holdings from Panoro Energy which has a 6.502% participating interest and a 16.255% cost-bearing interest in OML 113 offshore license, containing the Aje oil and gas field respectively.

PetroNor E&P ASA (OB:PNOR) completed the acquisition of 100% stake in OML 113 in Aje field from Panoro Energy ASA (OB:PEN) and ADM Energy plc (AIM:ADME) on July 13, 2022.