Panoro Energy has announced the release of its 2025 Annual Statement of Reserves (ASR).
Volumes stated in the ASR do not incorporate any volumes associated with the transformational acquisition of an additional 40.375 per cent interest in Block G offshore Equatorial Guinea which was announced on 24 February 2026.
ASR Highlights:
After taking account of 2025 production of 3.7 MMbbls the total net working interest reserves for Panoro expressed in MMbbls as of 31 December 2025 were:
Proved (1P) reserves of 27.29 MMbbls (31 December 2024: 29.54 MMbbls)
Proved + Probable (2P) reserves of 40.99 MMbbls (31 December 2024: 42.27 MMbbls)
Proved + Probable + Possible (3P) reserves of 51.82 MMbbls (31 December 2024: 57.01 MMbbls)
Panoro’s 2P reserves at 31 December 2025 reflect an organic reserve addition of 3.7 MMbbls primarily in relation to the Bourdon oil discovery made during the year offshore Gabon, partially offset by aggregate revisions to previous estimates of 1.3 MMbbls. This represents a 65 per cent organic reserve replacement ratio of volumes produced during the year.
In addition to stated reserves Panoro also has a 2C contingent resource base of 56.4 MMboe (31 December 2024: 25.6 MMbbls), the year-on-year increase primarily related to initial resource recognition at Block EG-23.
Pro Forma Volumes Including Additional Block G Interest Being Acquired:
Incorporating the volumes associated with the acquisition of an additional 40.375 per cent interest in Block G, which will increase Panoro’s interest in Block G to 54.625 per cent upon completion, total pro forma net working interest reserves for Panoro expressed in MMbbls as of 31 December 2025 were:
Proved (1P) reserves of 57.94 MMbbls
Proved + Probable (2P) reserves of 83.79 MMbbls
Proved + Probable + Possible (3P) reserves of 105.77 MMbbls
In addition to stated reserves Panoro’s pro forma 2C contingent resource base is 85.3 MMboe
A copy of the 2025 Annual Statement of Reserves is available on the website at http://www.panoroenergy.com/investors/annual-statement-of-reserves/
Original announcement link
Source: Panoro Energy
