Panoro Energy ASA provided revenue guidance for the year 2022 and production guidance for the fourth quarter and full year 2022 and first quarter and full year 2023. 2022 full year reported revenue is expected to be approximately USD 188 million.

Full year working interest production averaged approximately 7,500 bopd (approximate split Equatorial Guinea 59%, Gabon 25%, Tunisia 16%).
Working interest production in fourth quarter of 2022 averaged approximately 7,000 bopd and reflects facilities maintenance and preparations for tie-in activities undertaken during the period.

First quarter of 2023 working interest production is expected to be 7,000 bopd to 7,500 bopd taking into account a planned shutdown during February at Dussafu Marin for final hook up and commissioning work. Thereafter production is expected to increase progressively as the six new production wells at the Hibiscus Ruche Phase I development are drilled and brought onstream. Current group working interest production is approximately 7,300 bopd

Full year working interest production expected to average 9,000 bopd to 11,000 bopd in 2023, with the range being dependent on timing of the start-up of each of the new production wells at Dussafu Marin.