PA RESOURCES: PRODUCTION- AND SALES REPORT Q2, 2008
This report summarizes production and sales of crude oil and gas in the PA Resources Group in Tunisia and Norway during the second quarter 2008.
Total production
* Total oil- and gas production in the Group during Q2 2008 1,172,754 BOE
Crude oil
* Average oil production per day during Q2 2008: 12,887 barrels per day
* Accumulated oil production January to June 2008: 2,255,645 BOE
* Total oil production during Q2 2008: 1,172,754 BOE
* Oil sales during Q2 2008: 1,000,010 BOE
- Here of export sales 755,651 BOE
- Here of local sales 244,359 BOE
* Average sales price during Q2 2008: 119.57 USD per barrel
Gas
* No gas has been produced or sold during the quarter.
Comments
* The average sales price was a record high 119.57 USD per barrel during the quarter.
* The average production for June 2008 was 16,540 barrels per day.
* The well Didon-7 at the Didon field in Tunisia has now been put in production. Several tests have been executed
on this new well and the production capability has been confirmed. The production during the period has been affected by the ongoing drilling at the Didon field, in particular the month of June.
* Well Didon-5, which was shut in prior to start-up of Didon-7, will be back in production shortly and the second new well Didon-9 is currently being drilled. More information will be published as soon as results are available.
* Production of oil comes from seven fields in two geographical areas; Tunisia and Norway.
BOE = barrels of oil equivalents
Oslo/Stockholm, July 10, 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, Greenland, 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 2,794 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 Large Cap). For additional information, please visit www.paresources.se.
