Panoro Energy ASA announced production results from the Manati field in Brazil for the fourth quarter and full year of 2012. Natural gas production from the Manati field averaged 6.1 MMm3/day (3,837 boe/day net to PEN) in the fourth quarter 2012. This production level reflects fourth quarter 2012 gas demand in the region. Production in the fourth quarter 2012 represents a decrease of approximately 8% from the third quarter 2012 and an increase of approximately 31% compared to the fourth quarter 2011.

For the full year 2012, natural gas production from the Manati field in Brazil averaged 6.1 MMm3/day (3,860 boe/day net to PEN), an increase of approximately 49% compared to 2011.