The location is in a fault block to the west and up-dip of the Salloum oil discovery, drilled and tested by British Gas in 1991.
Panoro is working with its partner, Tunisian state oil company ETAP, on well planning and approvals.
The main target of SMW-1 will be the Bireno formation which produces from the neighboring El Ain and Guebiba fields.
The well will test the Bireno at a vertical depth of around 3,200 m (10,498 ft). Panoro aims to prove additional resources to justify development of Salloum through adjacent oil infrastructure.
Offshore Gabon, detailed planning continues for the Dussafu Phase 3 development, operated by BW Energy.
This will likely feature a new wellhead platform tied back to the FPOS BW Adolo stationed at the Tortue field. Panoro expects to take a final investment decision on Phase 3 later this year.