NIGERIA: PetroNor, Panoro Agree Extension to Long-stop Date to Aje Completion

PetroNor has reported that the final steps to complete the transactions in regards to acquisition of Panoro Energy’s ownership interest in Oil Mining Lease no. 113 (OML 113) offshore Nigeria, containing the Aje oil and gas field, and for the transfer of OML 113 to Aje Production AS are progressing well, but the parties need additional time to finalise the documentation.

As a consequence, PetroNor and Panoro have agreed to extend the long-stop date to complete the transaction to 30 June 2022.