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Panoro Energy announces substantial oil discovery in Hibiscus Updip sidetrack

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Oslo, 4 October 2019 – Panoro Energy ASA (OSE Ticker: “PEN”) is pleased to report a positive update on its drilling operation on the Hibiscus Updip well (“DHIBM-1”), located on Dussafu Marin Permit (“Dussafu”), offshore Gabon.

John Hamilton, CEO of Panoro, commented: “Results of drilling at Hibiscus Updip have significantly exceeded expectations. Both the original wellbore and sidetrack have encountered oil columns with excellent reservoir properties and our estimate of gross recoverable oil at Hibiscus Updip is between 40 and 50 million barrels. Our phase 3 development plans to tie the

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Source: Panoro Energy announces substantial oil discovery in Hibiscus Updip sidetrack

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