Panoro Energy ASA (“Panoro”), through its fully owned subsidiary, Pan Petroleum Aje Limited (PPAL), holds 6.502% participation interest in OML 113. PPAL received a default notice from Chevron the Technical Advisor to the Operator of OML 113 Yinka Folawoyo Petroleum, in relation to a disputed cash call holding PPAL in breach of its obligations under the JOA.
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