Panoro Energy ASA (“Panoro” or the “Company”) provides an update on its October crude oil lifting schedule.
The Company has completed its scheduled October lifting of 647,111 barrels in Gabon at a realized price of USD 91.54 per barrel, after customary price adjustment and associated fees, resulting in proceeds to the Company of approximately USD 59.2 million.
This lifting brings the aggregate volume of crude oil lifted by Panoro year-to-date to 1,671,232 barrels at an average realized price of USD 100.50 per barrel.
In line with IFRS standard accounting treatment the Company recognizes revenue when liftings of its crude oil entitlement occur.