Panoro Energy ASA provided an update on production and drilling activities at the Dussafu Marin Permit offshore Gabon in which Panoro has a 17.5% working interest. Gross production at Dussafu in second quarter of 2024 was 21,184 bopd (3,707 bopd net working interest to Panoro) and includes the effect of 21 days planned annual maintenance shut-down of the FPSO BW Adolo as previously communicated. Gross oil production at Dussafu is expected to reach approximately 40,000 bopd when all wells in the current campaign are completed and onstream. Drilling update: Following the discovery in May of a north-eastern extension at the Hibiscus South field (announced by the Company on 10 May 2024), the DHBSM-2H production well has successfully been drilled into the discovery, completed and was handed over to production operations without incident on 25 July. The DHBSM-2H well was drilled with the Borr Norve jack-up drilling rig and encountered good quality oil saturated reservoir sands in the regionally prolific Gamba reservoir. This well is the first to be completed with the new conventional ESP system and
will be put onstream shortly after hook up and testing. The Dussafu partners have also extended the contract for the Borr Norve jack-up drilling rig until February 2025. With the delivery of all conventional ESP systems (including spares) now secured the forward work plan is to successively workover the previously drilled and completed wells, installing conventional ESP
systems, and drill one production well into the recently discovered northern flank of the Hibiscus field. Bourdon Prospect: The rig contract extension is also expected to include the drilling of a well to test the Bourdon Prospect which is located in a water depth of 115 metres approximately 7 kilometres to the southeast of the BW Mabomo production facility and 14 kilometres west of the BW Adolo FPSO. The Bourdon Prospect has an estimated mid-case potential of 83 million barrels in place and 29 million
barrels recoverable in the Gamba and Dentale formations.