Oslo, 9 April 2026: PetroNor E&P ASA ("PetroNor" or the "Company") is providing
the following update on the PNGF Sud field operations in Congo.
The Company lifted and sold 964,593 barrels of entitlement oil on 6-8 April
2026. This represents a record single-lifting volume for the Company and
includes a significant overlift of more than 500,000 barrels that will be
replenished over the coming months with entitlement oil of circa 100,000 barrels
per month. The realised price of the sale will be determined according to the
current market conditions and the lifting contract with ADNOC. This realisation
will be announced at the end of April.
First quarter average net working interest production was 4,721 bopd*, compared
with 4,564 bopd in the previous quarter and 4,303 bopd in the first quarter of
2025. Production efficiency at 86 percent was impacted by an infrastructure
interruption causing almost half of the wells to be shut-in for a period of 16
days in February.
Following complete repairs, all wells were back in production during March and
gross daily production capacity at exit Q1 exceeded 31,000 bopd (net 5,200
bopd).
The full account of production (including final allocation for March) will be
presented in the interim report for the first quarter of 2026.
*Effective 16.83 per cent net to PetroNor working interest production with
preliminary production allocations for March.
For further information, please contact:
Investor Relations
Email: ir@petronorep.com
www.petronorep.com
About PetroNor E&P ASA
PetroNor E&P ASA is an Africa-focused independent oil and gas exploration and
production company listed on Oslo Børs with the ticker PNOR. PetroNor E&P ASA
holds assets offshore West Africa, specifically the PNGF Sud licenses in Congo
Brazzaville and OML-113 in Nigeria. Under the terms of the PNGF Sud licences, a
proportion of oil produced is used to pay royalties and tax to the Government.
The remaining oil produced is considered "entitlement oil" that can be lifted by
the company and sold in the market.