PA RESOURCES: SPUD OF EXPLORATION WELL GITA-1X IN DENMARK
The drilling of an exploration well in the Licence 9/06 (Gita) offshore Denmark has commenced. Results from the drilling are expected in March 2009. PA Resources will have a 26.8 percent interest in the licence as soon as the acquisition is approved, as earlier announced.
The operator Mærsk Olie og Gas AS has spudded the exploration well Gita-1X in Licence 9/06 (Gita) in the Northern Danish Central Graben offshore Denmark. The well is a vertical high pressure and high temperature well and it will be drilled with the drilling unit ENSCO 101. Results from the drilling are expected in March 2009.
As earlier announced, the oil and gas Group PA Resources AB entered into an agreement with Shell Olie- og Gasudvinding Danmark B.V in August this year to acquire interests in Licence 9/06 (Gita) and Licence 9/95 (Maja). The acquisition is expected to be formally closed soon. PA Resources will then have 26.8 percents interest in each of the two licences.
- Gita-1X is an exploration well with high resource potential in Licence 9/06. Should this drilling be successful we might find large quantities of hydrocarbons. It is also the first well for us in Denmark so we are looking forward to the drilling results, says Ulrik Jansson, President and CEO at PA Resources.
Stockholm, December 11, 2008
PA Resources AB (publ)
For more information, please contact:
Ulrik Jansson
President and CEO, PA Resources AB
Mobile: +46 70 751 41 84
E-mail: info@paresources.se
or
Trond Bjerkan
Executive Vice President, PA Resources AB
Telephone: +47 21 09 71 10
Mobile: +47 900 55 921
E-mail: info@paresources.no
PA Resources AB (publ) is an international oil and gas group with the business strategy to acquire, develop and exploit oil and gas reserves, as well as explore new findings. The Group operates in Tunisia, Norway, Greenland, Great Britain, Denmark, Netherlands, Equatorial Guinea and the Republic of Congo (Brazzaville). PA Resources is today one of the largest oil producers in Tunisia. The parent company is located in Stockholm, Sweden.
PA Resources AB's net sales amounted to SEK 2,794 Million during 2007. The company is primary listed on the Oslo Stock Exchange in Norway (segment OB Match) and secondary listed on the NASDAQ OMX Nordic Exchange in Stockholm, Sweden (segment Large Cap). For additional information, please visit www.paresources.se.
