NINE MONTHS
· Group revenue totalled SEK 515 million (856)
· EBITDA was SEK 327 million (-568)
· Profit after tax was SEK -212 million (-817)
· Earnings per share were SEK -1.87 (-22.31)
THIRD QUARTER
· Group revenue totalled SEK 155 million (231)
· EBITDA was SEK 107 million (-433)
· Profit after tax was SEK -138 million (-501)
· Earnings per share were SEK -1.22 (-8.53)
KEY EVENTS DURING THE QUARTER
· Closing of the Didon transaction, confirmation of no objection from
authorities still not obtained
· Third party review of the company’s reserves and contingent resources
presented
· Summons to bondholder’s meetings sent out
SUBSEQUENT EVENTS
· At the bondholder’s meeting on 20 October, the bondholders agreed to defer
the interest payments due in October 2014 to February 2015
FINANCIAL KEY RATIOS
Jul-Sep Jan-Sep Full year
2014 2013 2014 2013 2013
Average production, 3,100 4,200 3,200 4,900 5,000
barrels/day
Revenue, SEK 155 231 515 856 1,049
million
EBITDA, SEK million 107 -433 327 -568 -494
EBITDA margin, % 69% neg 64% neg neg
Operating profit, 51 -462 189 -938 -1,234
SEK million
Profit for the -138 -501 -212 -817 -1,219
period, SEK million
Earnings per share -1.22 -8.53 -1.87 -22.31 -21.54
after dilution, SEK
WEBCAST
PA Resources' results for the third quarter of 2014 will be presented on 29
October 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.
FINANCIAL CALENDAR
Year-end Report 2014 (January–December) 4 February 2015
Annual report 2014 20 March 2015
Interim report Q1 (January-March) 23 April 2015
AGM 2015 23 April 2015
Interim report Q2 (January-June) 17 July 2015
Interim report Q3 (January-September) 28 October 2015
Year-end Report(January-December) 3 February 2016
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 08:00 a.m. (CET) on 29 October 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.
