PA Resources AB: Production report for Quarter 2, 2011

 | Source: PA Resources PA Resources 

PA Resources AB: Production report for Quarter 2, 2011

PA Resources' average production amounted to 8,800 barrels per day in
June and 8,500 barrels per day were produced in average in the second
quarter.

PA Resources' average production per day*

(Barrels per day)    First half,    Quarter 2,    June,     
                     2011           2011          2011
West Africa          5,600          5,000         5,300
North Africa         3,500          3,500         3,500
Group total          9,100          8,500         8,800

* Production based on Working Interest, which is PA Resources' share of
the total gross production on the oil fields before deduction of royalty
and other taxes. Production figures are preliminary.

  · Total oil production, Quarter 2, 2011:         774,700 barrels

  · Average sales price, Quarter 2, 2011:       109 USD per barrel
(preliminary)

  · West Africa: The final production well at the Azurite Field offshore
Republic of Congo was brought into production on June 8, 2011 and the
field's initial development plan is hereby completed. Production from
the final production well is below expected levels. Water injection is
now at high rates allowing the improvement of reservoir pressure in the
eastern and central parts of the field. Evaluation of the field's
production capacity is ongoing.

  · North Africa:The production in Tunisia has been on a stable level
during the first half of 2011. The Didon Field continued to produce from
two of the field's wells in June.

Stockholm, 8 July 2011
PA Resources AB (publ)

For additional information, please contact:
Bo Askvik
President and CEO, PA Resources AB                               
Telephone: +46 70 819 59 18
E-mail: info@paresources.se

PA Resources AB(publ) is an international oil and gas group with the
business strategy to acquire, develop, exploit and divest oil and gas
reserves, as well as explore new findings. The Group operates in
Tunisia, Republic of Congo (Brazzaville), Equatorial Guinea, United
Kingdom, Denmark, Greenland, Netherlands and Germany. PA Resources is
one of the largest oil producers in Tunisia and is also producing oil in
the Republic of Congo. The parent company is located in Stockholm,
Sweden.
PA Resources' net sales amounted to SEK 2,227 million during 2010. The
company is listed on the NASDAQ OMX Nordic Exchange in Stockholm, Sweden
(segment Mid Cap). 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 CET on 8 July 2011.

 

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