Average production of oil per day*
(barrels per day) Year to Date 2012 May 2012
West Africa 5,900 5,300
North Africa 2,500 2,100
Group Total 8,400 7,400
* Production based on Working Interest, which is PA Resources’ share of the
total gross production of the oil fields before deduction of royalty and taxes
etc. Production figures are preliminary.
· The Aseng Field in Equatorial Guinea continued to produce at a level above
60,000 barrels per day (approximately 3,500 barrels per day net to PA
Resources).
· The planned shutdown for a week for maintenance work on the Azurite Field in
the Republic of Congo was successfully performed at the end of May. Production
has in early June returned to its former levels.
The operator of the field is also evaluating a number of remedial options to
replace or reinstate the failed production well (as earlier communicated).
However there is currently no forward plan agreed by the partners in the field.
· The three small onshore fields Tamesmida, Douleb and Semmama in Tunisia have
been shut-in due to social instability in the area. Negotiations with local
authorities are conducted by the operator Serept, to whom PA Resources has
outsourced the operatorship. Before the shut-ins, the fields were together
producing approximately 500 barrels per day.
Stockholm, 5 June 2012
PA Resources AB (publ)
For additional information, please contact:
Nicolas Adlercreutz, CFO PA Resources AB
Tel: +46 8 545 211 50 E-mail: ir@paresources.se
PA Resources AB (publ) is an international oil and gas group which conducts
exploration, development and production of oil and gas assets. The Group
operates in Tunisia, Republic of Congo (Brazzaville), Equatorial Guinea, United
Kingdom, Denmark, Greenland, Netherlands and Germany. PA Resources is producing
oil in West Africa and North Africa. The parent company is located in Stockholm,
Sweden. PA Resources’ net sales amounted to SEK 2,154 million during 2011. The
company is listed on the NASDAQ OMX 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 08.30 CET on 5 June 2012.
