PA Resources transferred ownership of 70 percent of its interest in the Didon
concession to EnQuest on July 11 2014. The cash consideration of USD 23 million,
with an interim period adjustment from 1 January 2013, is in escrow pending a
positive response from the Tunisian authorities, expected no later than in the
fourth quarter of 2014. EnQuest will assume responsibility for Didon operations
in accordance with transitional arrangements to assure a seamless handover. The
Zarat transaction is still pending.
(A description of the complete transaction was originally announced in the press
release on 29 May 2013.)
Stockholm, 14 July, 2014
PA Resources AB (publ)
For additional information, please contact:
Mark McAllister
PA Resources AB
Tel: +44 (0) 203 322 0100
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, 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 1,312 million in 2013. The share is listed
on the NASDAQ OMX in Stockholm, Sweden. 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 a.m. CET on 14 July 2014.
