Panoro Energy Farms into South Africa Exploration License
(WorldNews Environment)

Panoro Energy Farms into South Africa Exploration License Oslo, February 25, 2020, Panoro Energy ASA (the `Company` or `Panoro` with OSE ticker: `PEN`) is pleased to announce that it has signed a Farm Out Agreement (`FOA`) with a subsidiary of Africa Energy Corp. (`AEC`), part of the Lundin Group of Companies, which entails a wholly-owned subsidiary of Panoro acquiring a 12.5% interest in Block 2B located in the Orange Basin, offshore the west coast of South Africa. The exploration block has an exciting rift basin oil play, with an existing oil discovery and near-term plans to drill the Gazania-1 well targeting best estimated gross prospective resources of 349 million barrels* (`MMbbls`)....