SUMMARY
· Group revenue amounted to SEK 650 million (583) for the first
quarter.
· EBITDA for the quarter was SEK 395 million (359).
· Profit
before tax for the first quarter was SEK 68 million (143).
· Operating cash
flow for the first quarter totalled SEK 175 million (142).
· After the end of
the quarter, a lifting of approximately 520,000 barrels of oil was completed at
the Azurite field.
· Cash flow for the first quarter together with cash flow
from the Azurite lifting have reduced net debt by approximately SEK 580 million
to date in 2012.
· At the beginning of March the Aseng field reached its
higher production level of around 60,000 barrels per day, giving approximately
3,400 barrels net to PA Resources.
FINANCIAL KEY RATIOS
Q1 2012 Q1
2011 Jan.-Dec. 2011
Revenue (SEK million) 650 583
2,154
EBITDA (SEK million) 395 359 1,295
EBITDA
margin 60.8% 61.5% 60.1%
Operating profit (SEK
million) * 214 140 508
Operating margin *
33.0% 24.0% 23.6%
Profit before tax (SEK million) * 68 143
158
Earnings per share after dilution (SEK) -0.05 0.08 -3.27
*
Figures for the full year 2011 exclude non-cash, one-off costs of SEK 2,035
million before tax and SEK 1,758 million after tax.
(For complete Interim
Report, see the attached file)
Stockholm, 25 April, 2012
PA Resources AB
(publ)
For additional information, please contact:
Nicolas Adlercreutz
CFO,
PA Resources AB
Telephone: +46 8 545 211 56
E-mail:
ir@paresources.se
or
Bo Askvik
President and CEO, PA Resources
AB
Telephone: +46 8 545 211 50 (switchboard)
Webcast conference call
PA
Resources’ results for the first quarter 2012 will be presented on 25 April at
10 a.m. (CET) via a webcast conference call. To participate via webcast, see
link on www.paresources.se or use the following
link:
http://storm.zoomvisionmamato.com/player/paresources/objects/nxs1rkzc/
To participate via phone, please call:
Sweden: +46 8 505 598 53
UK: +44 203
043 24 36
US: +1 866 458 40 87
An on demand version is available after the
presentation on www.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, Greenland,
Netherlands and Germany. PA Resources is one of the larger oil producers in
Tunisia and is also producing oil in the Republic of Congo and Equatorial
Guinea. The parent company is located in Stockholm, Sweden.
PA Resources’ net
sales amounted to SEK 2,154 million during 2011. The company is listed on the
NASDAQ OMX Stockholm (segment Mid Cap). For additional information, see
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 07.45 CET on 25 April, 2012.
