PA Resources has reached a tentative agreement on the Unitization principles of
the Zarat Field in Tunisia with Sonde Resources, the Zarat license holder, to
the North of the Zarat Licence. This agreement includes principles relating to
the Unit Area, Unit Plan of Development Area and Tract Participation.
The Unit Plan of Development is on track for submission to the Tunisian
Authorities for approval by the end of the second quarter of 2013. A detailed
reservoir technical evaluation undertaken jointly by PA Resources and Sonde is
on- going. Preliminary results indicate that the gas recycling option is a
viable production option which will allow the production of oil and condensate
in advance of gas blow down.
PA Resources will make a further announcement relating to the Unit Plan of
Development and Unitization principles once all approvals have been obtained.
Stockholm, 6 December, 2012
PA Resources AB (publ)
For additional information, please contact:
Bo Askvik, CEO and President, +46 70 819 59 18
PA Resources AB 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 9.30 AM CET on 6 December, 2012.
