STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
PA Resources (STO:PAR) (OSE:PAR):
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.
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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