Panorama to Vigorously Defend a Notice of Civil Claim by Emperor Oil Ltd.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 12, 2014) - Panorama Petroleum Inc. (the "Company") (TSX VENTURE:PPA) reports that it is aware of, but has not been served, a Notice of Civil Claim with respect to prior agreements concerning the former Catalca Licence, Thrace Basin, Turkey and on Block 7, Sudan which agreements terminated due to the non-performance and default of the Plaintiff in the action ("Emperor Oil Ltd.").

The Company believes the claims are without merit. Once the Company is served with the Notice of Civil Claim, the Company will file a response to the Civil Claim and a Counter Claim.

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.