Oslo, 16 December 2021: Reference is made to yesterday's stock exchange
announcement confirming that the National Authority for Investigation and
Prosecution of Economic and Environmental Crime in Norway (Økokrim) had entered
the premises of PetroNor E&P Limited (OSE ticker: PNOR, "the Company") in Oslo.

The Company has been informed that CEO of PetroNor E&P Limited, Knut Søvold, is
one of the individuals being detained as part of the authorities' investigations
to obtain information that may confirm or disprove a suspicion of a criminal
offense. In order to ensure that the Company's ongoing operations are well taken
care of during the investigation period the board has appointed board director
Jens Pace as interim CEO with immediate effect. 

The Company cooperates fully with authorities in order to facilitate an
efficient completion of the investigations. 

For further information, please contact:
Jens Pace, Interim CEO and board director
Email: info@petronorep.com
www.petronorep.com

About PetroNor E&P
PetroNor E&P Limited is an Africa-focused independent oil and gas exploration
and production company listed on Oslo Euronext Expand with the ticker PNOR.
PetroNor E&P Limited holds exploration and production assets offshore West
Africa, specifically the PNGF Sud licenses in Congo Brazzaville, the A4 license
in The Gambia, the Sinapa (Block 2) and Esperança (Blocks 4A and 5A) licenses in
Guinea-Bissau, the Rufisque Offshore Profond and Senegal Offshore Sud Profond in
Senegal (in arbitration) and OML-113 in Nigeria (subject to completion).

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