PA Resources AB: Production report for Quarter 1, 2011
PA Resources' average production per day*
(Barrels per day) Jan-March 2011 March 2011
(Quarter 1)
West Africa 6,200 5,200
North Africa 3,500 2,800
Group total 9,700 8,000
* Production based on Working Interest, which is PA Resources' share of
the total gross production on the oil fields before deduction of royalty
and other taxes. Production figures are preliminary.
n Total oil production, Quarter 1, 2011: 873,400 barrels
n Average sales price, Quarter 1, 2011: 94 USD per barrel
n West Africa: Production at the Azurite Field in the Republic of Congo
continues to be impacted by the ongoing drilling and completion work for
the last injector and production well respectively. Production in April
and May will be reduced as a result of one well being taken out of
production, to be sidetracked to a new location as the final production
well. Present production is in line with quarter 1 average.
n North Africa: Production at the Didon Field, located offshore
Tunisia, was temporarily interrupted due to the aggravated situation in
Libya. The restart of production on the remote-controlled platform was
delayed due to bad weather combined with flight restrictions in the
area. Production is now operating normally.
Stockholm, 8 April 2011
PA Resources AB (publ)
For additional information, please contact:
Bo Askvik
President and CEO, PA Resources AB
Telephone: +46 70 819 59 18
E-mail: info@paresources.se (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, Republic of Congo (Brazzaville), Equatorial Guinea, United
Kingdom, Denmark, Greenland, Netherlands and Germany. 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 2,227 million during 2010. The
company is listed on the NASDAQ OMX Nordic Exchange in Stockholm, Sweden
(segment Mid Cap). For additional information, please visit
www.paresources.se.
The above information has been made public in accordance with the
Securities Market Act and/or the Financial Instruments Trading Act. The
information was published at 08.45 CET on 8 April 2011.
