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First Post Acquisition Crude Oil Lifting from Tunisia

Source: 3/11/2019, Location: Africa

Panoro Energy ASA is pleased to provide an update on lifting operations in Tunisia. The first cargo of approximately 151,000 barrels of Rhemoura blend crude oil has been lifted from La Skhirra Terminal in Tunisia on 6 March 2019. The lifting operations were completed successfully and without any delays or incidents. The pricing for this cargo was based on Rhemoura blend which is at a modest discount to Dated Brent in line with the differentials achieved in the recent past. Panoroís net participation in this lifting is 60%. In addition, approximately 40,000 barrels of crude oil, net to Panoro, is expected to be lifted from the Aje field, offshore Nigeria, in March 2019.

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