{"id":11718,"date":"2022-01-31T08:20:27","date_gmt":"2022-01-31T08:20:27","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=11718"},"modified":"2022-01-31T08:20:27","modified_gmt":"2022-01-31T08:20:27","slug":"nigeria-panoro-energy-receives-government-approvals-of-the-sale-of-all-its-interest-in-oml-113","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-panoro-energy-receives-government-approvals-of-the-sale-of-all-its-interest-in-oml-113\/","title":{"rendered":"NIGERIA: Panoro Energy Receives Government Approvals of the Sale of all its Interest in OML 113"},"content":{"rendered":"<p>Panoro Energy has announced that all government approvals have now been received for the sale of the shares of its fully-owned subsidiaries that hold 100% of the shares in Pan Petroleum Aje Limited to PetroNor E&amp;P Limited.\u00a0 Pan Aje participates in the exploration for and production of hydrocarbons in Nigeria and holds a 6.502% participating interest, with 16.255% cost bearing interest, representing an economic interest of 12.1913% in Oil Mining Lease 113, which includes the Aje field.<\/p>\n<p>Receipt of government approvals satisfies the last key condition precedent for the completion of the Transaction. Panoro and PetroNor will now proceed with the final steps to achieve completion of the Transaction, including the issuance of new PetroNor shares for distribution to Panoro shareholders.\u00a0 It is expected that the transaction will close within the next 90 days, and further information will become available in the coming weeks.<\/p>\n<p><strong>John Hamilton, CEO of Panoro, commented:<\/strong><\/p>\n<p>\u201cThe receipt of government approvals in Nigeria is a major achievement and enables us to now proceed swiftly to completion of the sale of Panoro\u2019s interest in OML 113 to PetroNor and unlock value for our shareholders. The divestment is consistent with Panoro\u2019s strategy to rationalise\u00a0and high grade its upstream portfolio, placing emphasis on the allocation of capital to short-cycle oil production projects and focused exploration close to infrastructure hubs. The transfer of ownership of OML 113 to PetroNor will allow Panoro to reduce and optimise its capital expenditures while preserving the ability for our shareholders to benefit from future gas successes through the distribution of shares in PetroNor to its shareholders. Panoro is confident that PetroNor is strategically well positioned to unlock the gas potential at Aje for the benefit of all stakeholders.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Panoro Energy has announced that all government approvals have now been received for the sale of the shares of its fully-owned subsidiaries that hold 100% of the shares in Pan &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-panoro-energy-receives-government-approvals-of-the-sale-of-all-its-interest-in-oml-113\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":11180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,11,7444],"tags":[8824,1749,8318,8743,8316,10107],"class_list":["post-11718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-top-news","category-west-africa","tag-aje","tag-nigeria","tag-oml-113","tag-pan-petroleum-aje-limited","tag-panoro-energy","tag-petronor-ep-limited","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-330","jetpack-related-posts":[{"id":12440,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-petronor-completes-purchase-of-aje-interests-from-panoro-energy\/","url_meta":{"origin":11718,"position":0},"title":"NIGERIA: PetroNor Completes Purchase of Aje interests from Panoro Energy","author":"","date":"July 13, 2022","format":false,"excerpt":"PetroNor confirms that it has completed on the purchase of the Panoro fully owned subsidiaries Pan-Petroleum Nigeria Holding BV and Pan- Petroleum Services Holdings BV that together hold 100% of the shares in Pan-Petroleum Aje Ltd . Pan Aje participates in the exploration for and production of hydrocarbons in Nigeria\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":9628,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-panoro-energy-announces-extension-of-long-stop-date-for-sale-of-aje\/","url_meta":{"origin":11718,"position":1},"title":"NIGERIA: Panoro Energy Announces Extension of Long Stop Date for Sale of Aje","author":"","date":"January 3, 2021","format":false,"excerpt":"Panoro Energy ASA has announced that PetroNor E&P Limited (PetroNor) and Panoro have reached an agreement to extend the completion long stop date for the previously announced sale of its fully-owned subsidiaries that hold 100% of the shares in Pan Petroleum Aje Limited. The original long stop date was December\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/12\/oml-113-panoro-664x525-1.jpg?fit=664%2C525&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/12\/oml-113-panoro-664x525-1.jpg?fit=664%2C525&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/12\/oml-113-panoro-664x525-1.jpg?fit=664%2C525&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":11261,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-panoro-petronor-agree-extension-of-long-stop-date-for-sale-of-aje\/","url_meta":{"origin":11718,"position":2},"title":"NIGERIA: Panoro, PetroNor Agree Extension of Long Stop Date for Sale of Aje","author":"","date":"December 2, 2021","format":false,"excerpt":"Panoro Energy and PetroNor E&P Limited have agreed to extend the completion long stop date for the previously announced sale of its fully-owned subsidiaries that hold 100% of the shares in Pan Petroleum Aje Limited. The amended long stop date to complete the Transaction is now 31 December 2021 to\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":12221,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-petronor-panoro-agreed-extension-to-long-stop-date-to-aje-completion\/","url_meta":{"origin":11718,"position":3},"title":"NIGERIA: PetroNor, Panoro Agree Extension to Long-stop Date to Aje Completion","author":"","date":"May 5, 2022","format":false,"excerpt":"PetroNor has reported that the final steps to complete the transactions in regards to acquisition of Panoro Energy\u2019s 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\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/nigeria-oil-blocks-oml-83-and-oml-85.jpg?fit=900%2C900&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/nigeria-oil-blocks-oml-83-and-oml-85.jpg?fit=900%2C900&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/nigeria-oil-blocks-oml-83-and-oml-85.jpg?fit=900%2C900&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/07\/nigeria-oil-blocks-oml-83-and-oml-85.jpg?fit=900%2C900&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":12276,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-petronor-ep-provides-update-on-aje-transactions\/","url_meta":{"origin":11718,"position":4},"title":"NIGERIA: PetroNor E&#038;P Provides Update on Aje Transactions","author":"","date":"May 23, 2022","format":false,"excerpt":"With reference to the stock exchange announcement made 27 January 2022, and the update provided 2 May 2022, regarding the government consent provided to PetroNor E&P acquisition of Panoro\u2019s ownership interest in Offshore Mining Lease no. 113 (OML 113) offshore Nigeria, containing the Aje oil and gas field, and for\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":8976,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tunisia-gabon-panoro-energy-provides-operations-for-h1-2020\/","url_meta":{"origin":11718,"position":5},"title":"TUNISIA\/ GABON: Panoro Energy Provides Operations for H1 2020","author":"","date":"August 27, 2020","format":false,"excerpt":"Operational Highlights Production and lifting operations maintained and largely unaffected through crisis Health and Safety systems and protocols proved resilient In Gabon, quarterly production at record high of 15,991 bopd gross on average, with current production in excess of 18,000 bopd At Dussafu, seismic reprocessing completed, potential for material increase\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/Panoro-Energy-operations.jpg?fit=388%2C470&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=11718"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11718\/revisions"}],"predecessor-version":[{"id":11719,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11718\/revisions\/11719"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/11180"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=11718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=11718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=11718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}