New production wells on the El Bibane and Ezzaouia fields - This press release was issued on July the 31th 2008

PRESS RELEASE JULY 31, 2008	                          
                          
(This press release was issued on July the 31th 2008, but because of technical
problems it was published on this website at a later date) 


New production wells on the El Bibane and Ezzaouia fields                       

The hook-up of the production well EBB-3 in the El Bibane field offshore Tunisia
has been completed and test production of oil has commenced. On the Ezzaouia    
field, the drilling of the production well Ezzaouia-17 has been completed. The  
oil- and gas group PA Resources has 25 percent participating interest in El     
Bibane and 13.6 percent interest in Ezzaouia.                                   

El Bibane                                                                       
The operator Candax Energy Inc. has today announced the completion of the       
hook-up of EBB-3 - the third and final of the three development wells in the El 
Bibane field offshore Tunisia. The completion was delayed, as commissioning of  
the gas compressors took longer than anticipated. EBB-3 has been on test        
production since late last week under natural flow. Production is not yet       
stabilized as the oil production rates are increasing as the well continues to  
clean up; the latest oil production from the well is over 1,000 barrels of oil  
per day. The oil production also includes significantly higher levels of        
condensate which has been separately tested at approximately 70 barrels per     
million cubic feet of gas, which is almost double the ratio anticipated. Further
announcements on production rates will be made once stabilized production is    
achieved according to the operator.                                             

-  The hook-up of the well EBB-3 is an important step in the development of the 
El Bibane field as all new production facilities has been put into operation and
the work can now be concentrated on optimizing the production, says Ulrik       
Jansson, President and CEO of PA Resources.                                     

PA Resources has a 25 percent participating interest in the El Bibane license.  
The operator Candax Energy has a 75 percent participating interest.             
Ezzaouia                                                                        
On the Ezzaouia field onshore Tunisia, the production well Ezzaouia-17 well has 
been successfully drilled and is currently being completed. Temporary testing   
and production equipment to enable fast track production has been mobilized by  
the operator. The Ezzaouia-17 well encountered all of the producing Jurassic    
zones, in the main Ezzaouia field, and all of which were interpreted as oil     
bearing. Net pay of approximately 20 metres was identified, with characteristics
similar to previous wells drilled at the Ezzaouia field.                        

- The new oil from the El Bibane field and the Ezzaouia field, will contribute  
to a raised oil production for us in a time of high oil sales prices, which is  
good news, says Ulrik Jansson, President and CEO of PA Resources.               

PA Resources has a 13.6 percent participating interest in the Ezzaouia-license. 
Operator is ETAP (55 %) and the other partner is Candax Energy (31.4 %).        

Stockholm, July 31, 2008                                                        
PA Resources AB (publ)                                                          

For more information, please contact:                                           
Ulrik Jansson                                                                   
President and CEO, PA Resources AB                                              
Telephone: +46 70 751 41 84. E-mail: info@paresources.se                        
or                                                                              
Trond Bjerkan                                                                   
Executive Vice President, PA Resources AB                                       
Telephone: +47 21 56 76 10. 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 approximately 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 OMX Nordic Exchange in Stockholm,
Sweden (segment Large Cap). For additional information, please visit            
www.paresources.se.