28-11-2007 - PA Resources has spudded exploration well on the Serraguia prospect

The oil- and gas company PA Resources AB has commenced the drilling of an
exploration well on the Serraguia prospect in the Makthar exploration permit in
western Tunisia. The drilling is estimated to take approximately 45 days. PA
Resources is operator and has a 45 percent working interest in the license. 

The Makthar exploration permit is located in the western part of central
Tunisia and near the producing oil fields Douleb, Semmama and Tamesmida. The
exploration well Serraguia-1 well is drilled by the drilling rig CTF-06 and the
well is planned to reach a total depth of 2,000 metres. The drilling is
estimated to take approximately 45 days. 

- This is the second exploration well we are drilling as part of the ongoing
drilling program at the Makthar permit. The Serraguia prospect is very
interesting and the close proximity of existing production facilities makes it
possible to achieve an early production start if we discover oil, says Ulrik
Jansson, President and CEO at PA Resources. 

Earlier this autumn, the rig CTF-06 drilled an exploration well in the Linda
prospect. Two intervals of potential hydrocarbons were penetrated and a
decision to perform a production test of these zones was made. Unfortunately,
the strong demand for well testing in Tunisia delayed the delivery of the
required testing equipment, and hence the production test of the Linda-1 well
was consequently delayed. Delivery of the required equipment to the site has
now started and the production test is scheduled to commence early in December. 

PA Resources owns, through a subsidiary, a 45 percent working interest in the
license and is the license operator. Partner is ETAP which owns a 55 percent
working interest. 

Stockholm, November 28, 2007
PA Resources AB (publ)


For further information, please contact: 
Ulrik Jansson 
President and CEO, PA Resources AB
Telephone: +46 70 751 41 84
E-mail: info@paresources.se

or

Trond Bjerkan
Vice President, PA Resources AB
Telephone: +47 21 56 76 10 
E-mail: info@paresources.no


PA Resources AB (publ) is a fast growing oil and gas group company with the
business strategy to acquire, develop and exploit oil and gas reserves, as well
as explore new findings. The Group operates in Tunisia, Norway, Great Britain,
Denmark, Equatorial Guinea and the Republic of Congo (Brazzaville). PA
Resources is today one of the largest oil producers in Tunisia. The parent
company is located in Stockholm, Sweden. 
PA Resources AB's net sales amounted to approximately SEK 843 Million during
2006. The company is primary listed on the Oslo Stock Exchange in Norway
(segment OB Match) and secondary listed on the OMX Nordic Exchange in
Stockholm, Sweden (segment MidCap). For additional information, please visit
www.paresources.se.