Panoro Trading Statement and Operations Update

22 Jan Panoro Trading Statement and Operations Update

(Oilandgaspress) -] Panoro Energy operational and financial update in advance of its full year 2025 results which are scheduled for release on 25 February 2026 in advance of its full year 2025 results which are scheduled for release on 25 February 2026.

2025 Performance

Production

Group working interest production in Q4 and full-year 2025 was:

2026 production guidance will be provided at the Company’s full year 2025 results on 25 February 2026

Crude Oil Liftings

Crude oil volumes lifted and sold in Q4 and full-year 2025 were in line with previously communicated expectations:

Note: Proceeds from oil sales differs to total reported revenue which includes a gross up for state profit oil in Gabon with a corresponding amount included as deemed income tax for reporting purposes

• Panoro’s anticipated lifting schedule for 2026 is being finalised with partners and the Company will provide an update at its full year 2025 results on 25 February 2026

Finance

• Cash at bank at 31 December 2025 was approximately USD 77.6 million which includes advances taken against future oil liftings of USD 25 million
• Gross debt outstanding at 31 December 2025 comprised solely of USD 150 million senior secured notes

Shareholder Returns

• In accordance with the previously communicated 2025 shareholder returns policy, during calendar year 2025 the Company distributed a total of NOK 411 million to shareholders, comprising:
  • cash distributions of NOK 320 million (paid quarterly as a return of paid in capital) and;
  • share buybacks of NOK 91 million from the purchase of 3,633,650 shares at a weighted average share price of NOK 24.92 per share, corresponding to 3.2 per cent of Panoro’s share capital
• The Company will communicate its 2026 shareholder returns policy at its full year results on 25 February 2026

Information contained within this release is unaudited and may be subject to further review and amendment.

Information Source: Read More

Panoro Energy ASA is presenting at the Pareto Securities’ E&P Independents Conference to be held in London on 22 January 2026.

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