PA RESOURCES: PRODUCTION- AND SALES REPORT, Q3, 2008
This report summarizes production and sales of crude oil and gas in the PA Resources Group in Tunisia and Norway during the third quarter 2008.
Total production
* Total oil- and gas production in the Group during Q3 2008 1,402,000 BOE
Crude oil
* Average oil production per day during Q3 2008: 15,200 barrels per day
* Accumulated oil production January to September 2008: 3,660,000 BOE
* Total oil production during Q3 2008: 1,402,000 BOE
* Oil sales during Q3 2008: 1,071,000 BOE
- Here of export sales 776,000 BOE
- Here of local sales 295,000 BOE
* Average sales price during Q3 2008: 107.81 USD per barrel
Gas
* Total gas production during Q3 2008 0 BOE
* Average sales price during Q3 2008: 0 USD per BOE
Comments
* The average production for September 2008 was 14,800 barrels per day. The production has thereafter increased and is now in the range as guided in the production forecast.
* On the Didon field in Tunisia, the production well Didon-5 was gradually put back to production in August, after a shut-in since the start-up of the new well Didon-7. A second shut-in was made when the drilling rig was moved from the production platform to the Didon North prospect. The production in the third quarter has been affected by the drilling at the field, rig move and extensive testing of the Didon-5 and Didon-7 wells with periods of reduced or no production.
* The Volve field in Norway has delivered record production from two oil producers during the period. A second water injection well has also been completed. However, due to a planned maintenance shutdown of approximately three weeks at the gas export receiving platform, the production was subsequently reduced during the quarter.
* Production of oil comes from seven fields in two geographical areas; Tunisia and Norway.
Explanations
- BOE = barrels of oil equivalents
Oslo/Stockholm, October 9, 2008
PA Resources AB (publ)
For more information, please contact:
Trond Bjerkan
Executive Vice President, PA Resources AB
Telephone: +47 21 09 71 10
E-mail: info@paresources.no
PA Resources AB (publ) is an international 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 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.
