Panorama Petroleum Inc. (the “Company”) has arranged on a best efforts basis a non-brokered private placement of up to 10,000,000 shares at $0.02 per share for gross proceeds of up to $200,000.

Net proceeds of the private placement will be applied towards working capital and for general corporate purposes.

The proposed private placement is subject to TSX Venture Exchange acceptance.

For further information please contact:

Dr. Waseem Rahman
President
Tel: (604) 684-2401
Fax: (604) 684-2407

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility or the adequacy or accuracy of this release. Certain information provided in this news release contains forward-looking statements that by their nature are subject to numerous risks and uncertainties and readers are cautioned that actual results may vary considerably from those forecasted.