STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
PA Resources AB: (STO:PAR)
Average production of oil per day*
| (barrels per day) | Year to Date 2012 | April 2012 | ||||||||
| West Africa | 6,100 | 5,700 | ||||||||
| North Africa | 2,600 | 2,700 | ||||||||
| Group Total | 8,700 | 8,400 |
* Production based on Working Interest, which is PA Resources’ share of the total gross production of the oil fields before deduction of royalty and taxes etc. Production figures are preliminary.
· The production level at the Aseng Field in Equatorial Guinea exceeded 60,000 barrels per day in April (approximately 3,500 barrels per day net to PA Resources) and all the five production wells contributed to the field’s production. Aseng has produced in total 10 million barrels of oil since the production start in November 2011, of which 600,000 barrels to PA Resources.
· Annual maintenance work is ongoing on the Azurite Field in Republic of Congo and production was shut-down briefly twice in late April. Another shut-down for maintenance work will also take place in late May and is expected to last one week. The technical and economic analysis continues regarding possible remedial options to increase the production in the well which has produced on minimal levels since February.
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 producing oil in West Africa and North Africa. 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 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 08.30 CET on 8 May 2012.
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