PA RESOURCES: PRODUCTION- AND SALES REPORT APRIL, 2008
This report summarizes production and sales of crude oil and gas in the PA Resources Group in Tunisia and Norway during the month of April 2008.
Total production
* Total oil- and gas production in the Group during April 2008 334,000 BOE
Crude oil
* Average oil production per day during April 2008: 11,100 barrels per day
* Total oil production during April 2008: 334,000 BOE
* Accumulated oil production January to April 2008: 1,440,053 BOE
* Oil sales during April 2008: 313,000 BOE
- Here of export sales 78,000 BOE
- Here of local sales 235,000 BOE
* Average sales price during April 2008: 99.01 USD per barrel
Gas
* No gas has been produced or sold during April 2008.
Comments
* The Group¡¦s first cargo ever with a sales price over 100 USD per barrel was sold at the Volve-field in Norway.
* Production of oil comes from two geographical areas, Tunisia and Norway, and seven fields.
* The average production for April 2008 was 11,100 barrels per day.
* The production has been affected by the ongoing drillings at the Didon-field in Tunisia. The Didon well D7 pilot well has been completed. Drilling of the Didon well D7 horizontal producer is ongoing. More information will be published as soon as results are available.
Explanations
- BOE = barrels of oil equivalents
Oslo/Stockholm, May 9, 2008
PA Resources AB (publ)
For more information, please contact:
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 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, Netherlands, 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 2,751 Million during 2007. 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.
