The Lille John 2 (‘LJ2’) well was drilled by operator Dana Petroleum Denmark BV
(‘Dana’) to a total measured depth of 1,384m (4540 ft). The Miocene sandstone
reservoir originally found oil-bearing in the PA Resources-operated 2011
discovery well Lille John 1 (‘LJ1’), was again encountered in LJ2, fully oil
-bearing as prognosed. The thickness and quality of sandstone reservoir
encountered in LJ2 were found as expected to be improved relative to LJ1. The
entire reservoir package was cored, a comprehensive log suite gathered and a
drill stem test then conducted over the interval. A stabilised rate of c. 500
barrels of oil per day and c. 0.25 mmcf/d of gas with no water was achieved
during the main test flow period which was deliberately conducted at constrained
rates in order to avoid risk of sand production. The oil quality was very
similar to that found in LJ1 being c. 35° API with no H2S. Following the main
flow period, test flow rates were raised to a maximum of c. 1,400 barrels of oil
per day, with no sand production experienced. Subsequently, the well was side
-tracked down-dip as LJ2A, confirming similar reservoir development and
establishing an oil column height of c. 300m (c. 950 ft) from LJ1 to LJ2A. Under
the terms of the farm-out arrangement with Dana, PA Resources was fully carried
by Dana on the costs of this well which will now be plugged and abandoned.
PA Resources CEO, Mark McAllister, commented: “We are pleased with this positive
operational result and proof of our conceptual model of improvement in reservoir
quality away from PA Resources’ initial play-opening LJ1 discovery. A large
suite of data has been gathered which will allow us to thoroughly evaluate the
reservoir in detail. At this early stage we are encouraged by the reservoir
quality demonstrated by the drill stem test although detailed evaluation will be
needed to confirm the exact thickness of oil pay penetrated and to assess the
recoverable resources in the Lille John accumulation.”
Stockholm 10 February, 2015
PA Resources AB (publ)
For additional information, please contact:
Graham Goffey, Senior Vice President Exploration & Managing Director West Africa
and North Sea
Phone: +44 20 3322 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 1,049 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 08:45 am CET on 10 February 2015.
