contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


panoro-energy-asa-panoro-energy-exercise-and-cash-settlement-of-share-options

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Panoro Energy is active in the oil and gas industry. The company is engaged in the exploration and production of oil and gas deposits. The largest operations are in Africa, where Gabon and Nigeria are countries with potential and development of oil drilling. In addition, the company is engaged in the transportation and sale of natural gas and oil. The company was established in 2009 and has its headquarters in London.

Panoro seems to be trading at around a 500m USD market cap right now. The Brent - WTI spread currently seems to be widening and showing a supply/demand imbalance lurking outside the United States. I didn’t feel like cranking out an Excel sheet, so I asked ChatGPT how much the company would make with Brent at $100.   P/FCF 2-3? The basic assumption is probably slightly bullish since the price curve is still downward sloping, though at last glance the August contract was also around 90 USD, so production disruptions are being priced in until the fall. The company has a suitable amount of debt, so the leverage should be pleasing to the shareholder even if the price disruption only lasts for a year. Somehow it just feels like the stock is a value trap after all. Small market cap and an esoteric exchange. I would be surprised if the stock started performing better than Saturn Oil & Gas or Kosmos, which have practically the same tailwinds as Panoro. Maybe the stock will start outperforming the others down the line .

Analysts have raised the target level to 37-45 NOK. Buy recommendation prevails - other peers mostly have a hold. This KOSMOS deal and the low price hedging % are the cornerstone of the position. PANORO looks very good right now - the Star of Africa - far from the Hormuz boiling pot…

panoroenergy.com              Cision Websolutions                              Panoro had some pretty big news about 3 weeks ago when they acquired 40.375% of Block G on top of the previous 14.25%. As I understand it, it’s quite a big leap in production. At the same time, there was a USD 49m share issue. It hasn’t sparked much discussion here

The update released today suggests that last year was quite solid. The shareholder returns and outlook (unspecified) are also encouraging. What are your thoughts on Panoro’s ability to generate returns for shareholders in 2026? What about African oil in the current global situation? Personally, I am hopeful that this provides oil security for Europe (including PNOR) in a situation where various global blocs are securing oil with self-sufficiency in mind. Europe’s own resources (excluding Russia) seem to be insufficient, so when it comes to oil, we will have to supplement our needs from other blocs – at a premium price?

Today, Bourdon’s discovery was announced. Approx. 25 million barrels of recoverable crude oil - a new field is taking shape.  Another piece of news is that OPEX, using the old calculation model, decreased from the $18.50 level to the $16/barrel level in Q1. Great, even though the new reporting method of $9.9 is really cryptic/misleading.

1) Operational costs exclude royalties, tariffs, workovers, domestic market obligation purchases, production sharing costs in Gabon, and incorporates the impact of IFRS 16 adjustments So apparently, it’s some ‘adjusted’ Opex figure. Meaning in reality, it’s probably still double that. Annoying trickery

The $9.9 OPEX level is correct, though a long list of cost items falls outside that figure - that COST1, according to common understanding, refers to disclaimer 1, where those cost items are listed.

Panoro Energy

Oslo, 23 March 2026 - In accordance with the grant of share options made to Board members of Panoro Energy ASA ("Panoro" or the "Company") following approval at the 2021 Annual General Meeting...

Oslo, 23 March 2026 - In accordance with the grant of share options made to Board members of Panoro Energy ASA ("Panoro" or the "Company") following approval at the 2021 Annual General Meeting (the "Board Options"), the exercise period of five years from the date of grant lapses on 27 May 2026. Please refer to the stock exchange announcement published by the Company on 28 May 2021 for further information about the Board Options.The following Board members who were granted Board Options in 2021 have now exercised Board Options as follows: <ul type="disc">	<li>Mr Julien Balkany (Chairman), who has exercised 48,000 Board Options</li>	<li>Mr Torstein Sanness (Deputy Chairman), who has exercised 24,000 Board Options</li>	<li>Ms Alexandra Herger (Board Member), who has exercised 24,000 Board Options</li></ul>The Board Options will be settled in cash based on Panoro's volume weighted average share price ("VWAP") on Euronext Oslo Børs for 23 March 2026 equalling NOK 30.4424 per share. The exercise price for the Board Options is NOK 17.34 per share, which gives a net cash payment of NOK 13.1024 per Board Option exercised.Following this exercise of Board Options the total outstanding number of Board Options and current shareholding of the above-mentioned Board members is as follows:<table border="1" cellpadding="0" cellspacing="0">	<tbody>		<tr>			<td>			Name			</td>			<td>			Title			</td>			<td>			Number of Options Exercised			</td>			<td>			Shareholding in the Company (number of shares)			</td>			<td>			Number of Options Outstanding			</td>		</tr>		<tr>			<td>			Mr Julien Balkany			</td>			<td>			Chairman			</td>			<td>			48,000			</td>			<td>			3,896,931			</td>			<td>			-			</td>		</tr>		<tr>			<td>			Mr Torstein Sanness			</td>			<td>			Deputy Chairman			</td>			<td>			24,000			</td>			<td>			185,289			</td>			<td>			-			</td>		</tr>		<tr>			<td>			Ms Alexandra Herger			</td>			<td>			Board Member			</td>			<td>			24,000			</td>			<td>			20,950			</td>			<td>			-			</td>		</tr>	</tbody></table>The Company's issued share capital remains unchanged at 125,138,448 shares following cash settlement of the Board Options. Please see attached notification form in accordance with the Market Abuse Regulation article 19.This information is subject to the disclosure requirements pursuant to the EU Market Abuse Regulation (EU 2014/596) article 19 and section 5-12 of the Norwegian Securities Trading Act.EnquiriesQazi Qadeer, Chief Financial Officer Tel: +44&nbsp;203 405 1060 Email:&nbsp;<a href="mailto:investors@panoroenergy.com">investors@panoroenergy.com</a>About Panoro EnergyPanoro 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 interests in Block G, Block EG-01 and Block EG-23 offshore Equatorial Guinea, the Dussafu Marin, Niosi Marin and Guduma Marin Licenses offshore southern Gabon, the TPS operated assets in Tunisia and onshore Exploration Right 376 in South Africa.Visit us at <a href="http://www.panoroenergy.com">www.panoroenergy.com</a>.Follow us on <a href="https://www.linkedin.com/company/panoro-energy">LinkedIn</a><div></div>

Name	Title	Number of Options Exercised	Shareholding in the Company (number of shares)	Number of Options Outstanding
Mr Julien Balkany	Chairman	48,000	3,896,931	-
Mr Torstein Sanness	Deputy Chairman	24,000	185,289	-
Ms Alexandra Herger	Board Member	24,000	20,950	-