Interim Report January 1 - March 31, 2008: PA Resources production according to forecast

Summary 1st quarter, 2008
 Group revenue referring to sales of crude oil during the first quarter of
2008 increased to SEK 657.1 million (284.2). A total of 1,272,000 (296,000)
barrels of oil was sold to an average price of 96.61 USD/barrel (53.44). 

 Profit for the period increased to SEK 234.1 million compared with SEK 39.9
million the corresponding period prior year. 

 Earnings per share before dilution amounted to SEK 1.61 (0.28) and earnings
per share after dilution became SEK 1.61 (0.27). 

 Average production of oil was 11,930 (7,470) barrels per day. At the end of
the quarter, the production levels reached approximately 13,800 barrels per
day. 

 Production started on the Volve field in Norway and the El Bibane field in
Tunisia. 

 Yet another significant discovery of hydrocarbons was made on Block I in
Equatorial Guinea. 

 The group was awarded a 50 percent working interest in an exploration license
offshore the Netherlands. 

 Encouraging results was obtained from an appraisal well and a sidetrack on
the Oselvar field in Norway. 

Comments from Ulrik Jansson, President and CEO at PA Resources:
- PA Resources' business continues to deliver a strong financial result. Both
revenues and profit have improved significantly compared to the corresponding
period last year. Our production is well in line with our forecast and the
crude oil has been sold to a record high oil price during the quarter. 

- The most important achievements during the period have been the production
start at the Volve field in Norway and the El Bibane field in Tunisia, the
award of a license in the Netherlands and the discovery of condensate and gas
in Equatorial Guinea. Now we are looking forward to follow the drillings of
production wells at the Didon field in Tunisia among other things. 

Stockholm, 2008-04-29
PA Resources AB  

(For the complete Interim Report, see the attached file)

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 
Bo Askvik
CFO, PA Resources AB
Mobile +46 708 19 59 18
E-mail: bo.askvik@paresources.se


Invitation to the presentation of the Interim result
PA Resources AB invites to a presentation of the interim result for the period
1st of January to the 31st of March 2008. The presentation will take place on
Tuesday, the 29th of April 2008, at 09.00 at Felix Konferansesenter,
Bryggetorget 3 (Room: Lancing), in Oslo, Norway. The presentation is also
broadcasted as web cast over the company's web site www.paresources.se. The
recorded presentation will also be available on the web site afterwards. 


PA Resources AB (publ) is a fast growing 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 approximately SEK 2,751 Million during
2007. The company is primary listed on the Oslo Stock Exchange in Norway
(segment OB Match) and secondary listed on the OMX Nordic Exchange in
Stockholm, Sweden (segment MidCap). For additional information, please visit
www.paresources.se.