This is a preliminary report on PA Resources group production and sales of crude
oil during the third quarter 2010. Final figures will be reported in the coming
quarterly financial report.
Working Interest Production of crude oil
* Total oil production: 969,700 barrels
* Average oil production per day: 10,500 barrels per day
* Accumulated oil production January - September 2010: 2,802,900 barrels
* Oil sales (excl. royalty): 634,800 barrels
* Average sales price: 72 USD per barrel
Comments
* PA Resources' average production increased in the third quarter to 10,500
barrels per day compared to 10,400 barrels per day in the second quarter 2010.
* The production comprised of 4,600 barrels per day at the six Tunisian oil
fields and 5,900 barrels per day at the Azurite field in the Republic of Congo
in the third quarter.
* The fourth production well at the Azurite field in the Republic of Congo has
been completed and was brought into production on 4(th) of October, after the
end of the quarter. The well increases the production levels on the field
markedly and the levels will increase further when the remaining wells are
brought into operation. PA Resources' share of the average production at Azurite
field is over 9,500 barrels per day at the date of this press release. Two
additional production wells and two water injection wells will be drilled on the
field.
* Oil sales have increased compared to the second quarter 2010 due to a lifting
of oil at the Azurite field in the end of September.
Stockholm, 8 October 2010
PA Resources AB (publ)
For additional information, please contact:
Bo Askvik
President and CEO
PA Resources
AB
Telephone: +46 70 819 59 18, +46 8 21 83 82
E-mail:info@paresources.se
PA Resources AB (publ) is an international oil and gas group with the business
strategy to acquire, develop, exploit and divest oil and gas reserves, as well
as explore new findings. The Group operates in Tunisia, United Kingdom, Denmark,
Greenland, Netherlands, Equatorial Guinea and the Republic of Congo
(Brazzaville). PA Resources is one of the largest oil producers in Tunisia and
is also producing oil in the Republic of Congo. The parent company is located in
Stockholm, Sweden.
PA Resources' net sales amounted to SEK 2,113 million during 2009. The company
is listed on the NASDAQ OMX Nordic Exchange in Stockholm, Sweden (segment Mid
Cap) and on the Oslo Stock Exchange in Norway (segment OB Match). For additional
information, please visit www.paresources.se
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