Interim Report 1 January – 30 June 2014


FIRST HALF YEAR

  · Group revenue totalled SEK 359 million (625)
  · EBITDA was SEK 220 million (-134)
  · Profit after tax was SEK -74 million (-316)
  · Earnings per share were SEK -0.66 (-12.97)

SECOND QUARTER

  · Group revenue totalled SEK 181 million (266)
  · EBITDA was SEK 106 million (-346)
  · Profit after tax was SEK -26 million (-350)
  · Earnings per share were SEK -0.23 (-12.89)

KEY EVENTS DURING THE QUARTER

  · The farm-out in the 12/06 licence to Dana received governmental approval
  · The 9/06 (Gita) licence was relinquished
  · Mark McAllister and Jérôme Schurink were elected new members of the Board at
the AGM and Jérôme Schurink was elected Chairman
  · Continued uncertainty and delays in the Zarat farm-out process

SUBSEQUENT EVENTS

  · The Didon transaction closed on 11 July

FINANCIAL KEY RATIOS

                     Apr-Jun          Jan-Jun          Full year
                     2014   2013      2014   2013      2013
Average production,  3,200  5,400     3,300  6,100     5,000
barrels/day
Revenue, SEK         181    266       359    625       1,049
million
EBITDA, SEK million  106    -346      220    -134      -494
EBITDA margin, %     59%    neg       61%    neg       neg
Operating profit,    67     -592      139    -475      -1,234
SEK million
Profit for the       -26    -350      -74    -316      -1,219
period, SEK million
Earnings per share   -0.23  -12.89    -0.66  -12.97    -21.54
after dilution, SEK

WEBCAST
PA Resources' results for the second quarter of 2014 will be presented on 18
July 2014 at 09:00 am (CET) via a webcast conference call. To participate,
please use the link at www.paresources.se or call:

SE: +46 8 505 564 74
UK: +44 203 364 5374
USA: +1 855 753 2230

An on-demand webcast will be available on PA Resources
website, www.paresources.se after the presentation.

CONTACT
Queries concerning this report can be directed to:

Tomas Hedström, CFO
+46 8 545 211 50
ir@paresources.se

Mark McAllister, President and CEO
+46 8 545 211 50
ir@paresources.se

DISCLOSURE
The information in this interim report is such that PA Resources AB is required
to disclose pursuant to the Securities Market Act and Financial Instruments
Trading Act. Submitted for publication at 07:30 a.m. (CET) on 18 July 2014.

PA RESOURCES IN BRIEF
PA Resources AB (publ) is an international oil and gas group that conducts
exploration, development and production of oil and gas assets. The Group
operates in Tunisia, the Republic of Congo (Brazzaville), Equatorial Guinea, the
United Kingdom, Denmark, the Netherlands and Germany. PA Resources is producing
oil in West Africa and North Africa. The parent company is located in Stockholm,
Sweden. PA Resources’ shares are listed on NASDAQ OMX in Stockholm, Sweden. For
further information, please visit www.paresources.se.

Attachments

07175479.pdf