﻿<?xml version="1.0" encoding="utf-8"?>
<linkbase xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns="http://www.xbrl.org/2003/linkbase">
  <roleRef roleURI="http://www.panoroenergy.com/roles/StatementOfComprehensiveIncome" xlink:href="PEN-2025-12-31.xsd#StatementOfComprehensiveIncome" xlink:type="simple" xmlns:xlink="http://www.w3.org/1999/xlink" />
  <roleRef roleURI="http://www.panoroenergy.com/roles/StatementOfFinancialPosition" xlink:href="PEN-2025-12-31.xsd#StatementOfFinancialPosition" xlink:type="simple" xmlns:xlink="http://www.w3.org/1999/xlink" />
  <roleRef roleURI="http://www.panoroenergy.com/roles/StatementOfChangesInEquity" xlink:href="PEN-2025-12-31.xsd#StatementOfChangesInEquity" xlink:type="simple" xmlns:xlink="http://www.w3.org/1999/xlink" />
  <roleRef roleURI="http://www.panoroenergy.com/roles/StatementOfCashFlows" xlink:href="PEN-2025-12-31.xsd#StatementOfCashFlows" xlink:type="simple" xmlns:xlink="http://www.w3.org/1999/xlink" />
  <arcroleRef arcroleURI="https://xbrl.org/2023/arcrole/summation-item" xlink:href="https://www.xbrl.org/2023/calculation-1.1.xsd#summation-item" xlink:type="simple" xmlns:xlink="http://www.w3.org/1999/xlink" />
  <calculationLink xlink:role="http://www.panoroenergy.com/roles/StatementOfComprehensiveIncome" xlink:type="extended" xmlns:xlink="http://www.w3.org/1999/xlink">
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_RevenueFromContractsWithCustomers" xlink:label="ifrs-full_RevenueFromContractsWithCustomers" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_OtherRevenue" xlink:label="ifrs-full_OtherRevenue" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_RevenueFromSaleOfOilAndGasProducts" xlink:label="ifrs-full_RevenueFromSaleOfOilAndGasProducts" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_OperatingExpense" xlink:label="ifrs-full_OperatingExpense" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_MiscellaneousOtherOperatingExpense" xlink:label="ifrs-full_MiscellaneousOtherOperatingExpense" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_GeneralAndAdministrativeExpense" xlink:label="ifrs-full_GeneralAndAdministrativeExpense" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:label="ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_DepreciationAndAmortisationExpense" xlink:label="ifrs-full_DepreciationAndAmortisationExpense" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_AcquisitionrelatedCostsRecognisedAsExpenseForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination" xlink:label="ifrs-full_AcquisitionrelatedCostsRecognisedAsExpenseForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_ExplorationCostsWrittenOff" xlink:label="PEN_ExplorationCostsWrittenOff" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:label="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_ProfitLossFromOperatingActivities" xlink:label="ifrs-full_ProfitLossFromOperatingActivities" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ifrs-full_ProfitLossBeforeTax" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_GainOnReassessmentOfContingentConsideration" xlink:label="PEN_GainOnReassessmentOfContingentConsideration" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_RealisedGainLossOnCommodityHedges" xlink:label="PEN_RealisedGainLossOnCommodityHedges" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_RevenueFromInterest" xlink:label="ifrs-full_RevenueFromInterest" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_InterestExpense" xlink:label="ifrs-full_InterestExpense" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_TradingIncomeExpenseOnEquityInstruments" xlink:label="ifrs-full_TradingIncomeExpenseOnEquityInstruments" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_OtherFinanceCost" xlink:label="ifrs-full_OtherFinanceCost" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_RevenueFromContractsWithCustomers" xlink:to="ifrs-full_OtherRevenue" order="2" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_RevenueFromContractsWithCustomers" xlink:to="ifrs-full_RevenueFromSaleOfOilAndGasProducts" order="2" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_OperatingExpense" xlink:to="ifrs-full_MiscellaneousOtherOperatingExpense" order="10" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_OperatingExpense" xlink:to="ifrs-full_GeneralAndAdministrativeExpense" order="10" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_OperatingExpense" xlink:to="ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" order="10" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_OperatingExpense" xlink:to="ifrs-full_DepreciationAndAmortisationExpense" order="10" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_OperatingExpense" xlink:to="ifrs-full_AcquisitionrelatedCostsRecognisedAsExpenseForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination" order="10" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_OperatingExpense" xlink:to="PEN_ExplorationCostsWrittenOff" order="10" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_OperatingExpense" xlink:to="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" order="10" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_ProfitLossFromOperatingActivities" xlink:to="ifrs-full_OperatingExpense" order="11" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_ProfitLossFromOperatingActivities" xlink:to="ifrs-full_RevenueFromContractsWithCustomers" order="11" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_ProfitLossFromOperatingActivities" order="19" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="PEN_GainOnReassessmentOfContingentConsideration" order="19" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" order="19" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="PEN_RealisedGainLossOnCommodityHedges" order="19" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_RevenueFromInterest" order="19" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_InterestExpense" order="19" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_TradingIncomeExpenseOnEquityInstruments" order="19" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_OtherFinanceCost" order="19" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_ProfitLoss" xlink:to="ifrs-full_ProfitLossBeforeTax" order="21" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_ProfitLoss" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations" order="21" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="-1.0" />
  </calculationLink>
  <calculationLink xlink:role="http://www.panoroenergy.com/roles/StatementOfFinancialPosition" xlink:type="extended" xmlns:xlink="http://www.w3.org/1999/xlink">
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_NoncurrentAssets" xlink:label="ifrs-full_NoncurrentAssets" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_ProductionRights" xlink:label="PEN_ProductionRights" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_LicensesAndExplorationAssets" xlink:label="PEN_LicensesAndExplorationAssets" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:label="ifrs-full_InvestmentAccountedForUsingEquityMethod" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_Goodwill" xlink:label="ifrs-full_Goodwill" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_ProductionAssetsAndEquipment" xlink:label="PEN_ProductionAssetsAndEquipment" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_DevelopmentAssets" xlink:label="PEN_DevelopmentAssets" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_PropertyFurnitureFixturesAndOfficeEquipment" xlink:label="PEN_PropertyFurnitureFixturesAndOfficeEquipment" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_OtherNoncurrentAssets" xlink:label="ifrs-full_OtherNoncurrentAssets" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CurrentAssets" xlink:label="ifrs-full_CurrentAssets" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CurrentCrudeOil" xlink:label="ifrs-full_CurrentCrudeOil" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CurrentMaterialsAndSuppliesToBeConsumedInProductionProcessOrRenderingServices" xlink:label="ifrs-full_CurrentMaterialsAndSuppliesToBeConsumedInProductionProcessOrRenderingServices" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_TradeAndOtherCurrentReceivables" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="ifrs-full_CashAndCashEquivalents" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_Assets" xlink:label="ifrs-full_Assets" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_TotalPaidInEquity" xlink:label="PEN_TotalPaidInEquity" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_IssuedCapital" xlink:label="ifrs-full_IssuedCapital" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_SharePremium" xlink:label="ifrs-full_SharePremium" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_TreasuryShares" xlink:label="ifrs-full_TreasuryShares" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_AdditionalPaidinCapital" xlink:label="ifrs-full_AdditionalPaidinCapital" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_EquityAttributableToOwnersOfParent" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_OtherReservesMergerAndCurrencyTranslation" xlink:label="PEN_OtherReservesMergerAndCurrencyTranslation" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_RetainedEarnings" xlink:label="ifrs-full_RetainedEarnings" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_NoncurrentLiabilities" xlink:label="ifrs-full_NoncurrentLiabilities" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_LongtermProvisionForDecommissioningRestorationAndRehabilitationCosts" xlink:label="ifrs-full_LongtermProvisionForDecommissioningRestorationAndRehabilitationCosts" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_NoncurrentPortionOfNoncurrentSecuredBankLoansReceived" xlink:label="ifrs-full_NoncurrentPortionOfNoncurrentSecuredBankLoansReceived" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_LicenceAndContingentObligations" xlink:label="PEN_LicenceAndContingentObligations" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_OtherNoncurrentLiabilities" xlink:label="ifrs-full_OtherNoncurrentLiabilities" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="ifrs-full_DeferredTaxLiabilities" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CurrentLiabilities" xlink:label="ifrs-full_CurrentLiabilities" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_TradeAndOtherCurrentPayables" xlink:label="ifrs-full_TradeAndOtherCurrentPayables" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived" xlink:label="ifrs-full_CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_LicenceAndContingentObligationsCurrentPortion" xlink:label="PEN_LicenceAndContingentObligationsCurrentPortion" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_OtherCurrentLiabilities" xlink:label="ifrs-full_OtherCurrentLiabilities" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_OilRevenueAdvances" xlink:label="PEN_OilRevenueAdvances" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_EquityAndLiabilities" xlink:label="ifrs-full_EquityAndLiabilities" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="PEN_ProductionRights" order="9" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="PEN_LicensesAndExplorationAssets" order="9" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="ifrs-full_InvestmentAccountedForUsingEquityMethod" order="9" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="ifrs-full_NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" order="9" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="ifrs-full_Goodwill" order="9" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="PEN_ProductionAssetsAndEquipment" order="9" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="PEN_DevelopmentAssets" order="9" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="PEN_PropertyFurnitureFixturesAndOfficeEquipment" order="9" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="ifrs-full_OtherNoncurrentAssets" order="9" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CurrentAssets" xlink:to="ifrs-full_CurrentCrudeOil" order="14" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CurrentAssets" xlink:to="ifrs-full_CurrentMaterialsAndSuppliesToBeConsumedInProductionProcessOrRenderingServices" order="14" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CurrentAssets" xlink:to="ifrs-full_TradeAndOtherCurrentReceivables" order="14" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CurrentAssets" xlink:to="ifrs-full_CashAndCashEquivalents" order="14" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_CurrentAssets" order="15" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_NoncurrentAssets" order="15" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="PEN_TotalPaidInEquity" xlink:to="ifrs-full_IssuedCapital" order="20" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="PEN_TotalPaidInEquity" xlink:to="ifrs-full_SharePremium" order="20" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="PEN_TotalPaidInEquity" xlink:to="ifrs-full_TreasuryShares" order="20" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="PEN_TotalPaidInEquity" xlink:to="ifrs-full_AdditionalPaidinCapital" order="20" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_EquityAttributableToOwnersOfParent" xlink:to="PEN_TotalPaidInEquity" order="23" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_EquityAttributableToOwnersOfParent" xlink:to="PEN_OtherReservesMergerAndCurrencyTranslation" order="23" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_EquityAttributableToOwnersOfParent" xlink:to="ifrs-full_RetainedEarnings" order="23" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_LongtermProvisionForDecommissioningRestorationAndRehabilitationCosts" order="29" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_NoncurrentPortionOfNoncurrentSecuredBankLoansReceived" order="29" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="PEN_LicenceAndContingentObligations" order="29" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_OtherNoncurrentLiabilities" order="29" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_DeferredTaxLiabilities" order="29" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_TradeAndOtherCurrentPayables" order="36" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_CurrentSecuredBankLoansReceivedAndCurrentPortionOfNoncurrentSecuredBankLoansReceived" order="36" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="PEN_LicenceAndContingentObligationsCurrentPortion" order="36" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_OtherCurrentLiabilities" order="36" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="PEN_OilRevenueAdvances" order="36" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_CurrentTaxLiabilitiesCurrent" order="36" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_NoncurrentLiabilities" order="37" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_EquityAttributableToOwnersOfParent" order="37" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_CurrentLiabilities" order="37" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
  </calculationLink>
  <calculationLink xlink:role="http://www.panoroenergy.com/roles/StatementOfChangesInEquity" xlink:type="extended" xmlns:xlink="http://www.w3.org/1999/xlink">
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ifrs-full_ComprehensiveIncome" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="ifrs-full_OtherComprehensiveIncome" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_ComprehensiveIncome" xlink:to="ifrs-full_ProfitLoss" order="3" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_ComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncome" order="3" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
  </calculationLink>
  <calculationLink xlink:role="http://www.panoroenergy.com/roles/StatementOfCashFlows" xlink:type="extended" xmlns:xlink="http://www.w3.org/1999/xlink">
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ifrs-full_ProfitLossBeforeTax" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_Depreciation" xlink:label="PEN_Depreciation" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:label="ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_AdjustmentsForExplorationCostsWrittenOff" xlink:label="PEN_AdjustmentsForExplorationCostsWrittenOff" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_AdjustementsForLossGainOnCommodityHedges" xlink:label="PEN_AdjustementsForLossGainOnCommodityHedges" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_AdjustmentsForFinanceIncomeCost" xlink:label="ifrs-full_AdjustmentsForFinanceIncomeCost" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_AdjustmentsForSharebasedPayments" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:label="ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_StateShareOfProfitOil" xlink:label="PEN_StateShareOfProfitOil" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:label="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_InterestReceivedClassifiedAsInvestingActivities" xlink:label="ifrs-full_InterestReceivedClassifiedAsInvestingActivities" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_GrossProceedsFromLoansAndBorrowings" xlink:label="PEN_GrossProceedsFromLoansAndBorrowings" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" xlink:label="ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_RepaymentOfSecuredLoans" xlink:label="PEN_RepaymentOfSecuredLoans" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_CommodityHedgesCashPayments" xlink:label="PEN_CommodityHedgesCashPayments" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_PaymentsForDebtIssueCosts" xlink:label="ifrs-full_PaymentsForDebtIssueCosts" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_ShareBuyback" xlink:label="PEN_ShareBuyback" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_CashDistributionToShareholders" xlink:label="PEN_CashDistributionToShareholders" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_CashCostOfEquityIssueOnSettlementOfRsus" xlink:label="PEN_CashCostOfEquityIssueOnSettlementOfRsus" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:label="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_OilRevenueAdvancesReceived" xlink:label="PEN_OilRevenueAdvancesReceived" />
    <loc xlink:type="locator" xlink:href="PEN-2025-12-31.xsd#PEN_OilRevenueAdvancesRepaid" xlink:label="PEN_OilRevenueAdvancesRepaid" />
    <loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_ProfitLossBeforeTax" order="3" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="PEN_Depreciation" order="5" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" order="6" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="PEN_AdjustmentsForExplorationCostsWrittenOff" order="7" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="PEN_AdjustementsForLossGainOnCommodityHedges" order="8" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_AdjustmentsForFinanceIncomeCost" order="9" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_AdjustmentsForSharebasedPayments" order="10" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" order="11" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" order="12" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" order="13" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" order="14" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="PEN_StateShareOfProfitOil" order="15" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" order="16" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" order="19" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_InterestReceivedClassifiedAsInvestingActivities" order="20" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" order="21" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" order="22" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="PEN_GrossProceedsFromLoansAndBorrowings" order="2" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" order="3" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="PEN_RepaymentOfSecuredLoans" order="4" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="PEN_CommodityHedgesCashPayments" order="5" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="ifrs-full_PaymentsForDebtIssueCosts" order="6" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="PEN_ShareBuyback" order="7" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="PEN_CashDistributionToShareholders" order="8" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="PEN_CashCostOfEquityIssueOnSettlementOfRsus" order="9" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" order="10" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="PEN_OilRevenueAdvancesReceived" order="11" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="PEN_OilRevenueAdvancesRepaid" order="12" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="-1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivities" order="13" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivities" order="23" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
    <calculationArc xlink:type="arc" xlink:from="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivities" order="17" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" priority="1" weight="1.0" />
  </calculationLink>
</linkbase>