Releases - PA Resources AB

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Carla South sidetrack finds oil in Block I, Equatorial Guinea

5/20/2013 4:30 AM EST
The Carla South I-7 ST-1 sidetrack to the I-7 exploration well in Block I has encountered oil in good quality sandstones. The sidetrack in Block I in Equatorial Guinea has reached a total measured depth of 3,460m. Drill cuttings, wireline log data and downhole measurements indicate that the sidetrack encountered an aggregate of approximately 9-11m of net oil pay in good quality sandstones at several levels. The well...

New CEO at PA Resources

5/15/2013 2:30 AM EST
The Board of Directors of PA Resources has decided with immediate effect to appoint Board member Philippe R Probst as the company’s CEO. Bo Askvik is thereby leaving his position as CEO but will be available to the company for a number of months. Philippe R Probst will be CEO during an interim period and the Board intends to start immediately on the work of recruiting a permanent CEO.
It is well known that PA...

Announcement from PA Resources’ AGM on 14 May 2013

5/14/2013 12:45 PM EST
PA Resources AB (publ) held its Annual General Meeting on Tuesday 14 May 2013 in Stockholm. This is a summary of the most important decisions made by the Annual General Meeting.
The annual report for the parent company and the consolidated group’s annual report, together with the auditor’s report for the fiscal year 2012, were presented. The income statement and the balance sheet for both the parent company and...

Change in number of shares and votes in PA Resources AB

5/10/2013 2:30 AM EST
As per 30 April 2013, the total number of shares amounts to 28,291,998.
CE

In accordance with previously disclosed information, PA Resources has completed a reverse share split combined with a minor directed share issue for administrative reasons. The reverse share split decided by the extraordinary general meeting on 9 April 2013 was entailing the consolidation of 500 existing shares in PA Resources into one...

Proposal from the Nomination Committee to the AGM of PA Resources

5/8/2013 1:45 AM EST
The Nomination Committee of PA Resources AB (publ) hereby submits the following proposal to the annual general meeting, which takes place on 14 May 2013.
The Nomination Committee of PA Resources AB, that was formed on 13 March 2013, had the following members; Sven A Olsson representing the shareholder Gunvor Group Ltd (also chairman of the committee), Bengt Stillström representing the shareholder AB Traction...

PA Resources’ Production Report for April, 2013

5/7/2013 2:30 AM EST
Average production of oil per day*

(barrels per day) Year to date, April,
2013 2013
West Africa 4,700 4,200
North Africa 1,900 1,900
Group Total 6,600 6,100

* 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.

· Production rates at Azurite field continue to be affected...

Carla South oil discovery in Block I, Equatorial Guinea

5/2/2013 2:30 AM EST
The Carla South exploration well in Block I has encountered oil in good quality sandstones at the target level. The well will shortly be side-tracked to an adjacent target.
The Carla South (I-7) exploration well in Block I in Equatorial Guinea has reached a total measured depth of 3,660m. Drill cuttings, wireline log data and downhole measurements indicate that the deviated well encountered approximately 12m...

PA Resources’ Interim Report January - March 2013

4/24/2013 2:15 AM EST
SUMMARY

· Group revenue for the first quarter totalled SEK 446 million (650).
· EBITDA for the quarter was SEK 242 million (395).
· Profit before tax for the quarter was SEK 110 million (68).
· A profit of SEK 34 million (-31) was reported for the period.
· The completed rights issue raised SEK 604 million for PA Resources, net after issue costs.
· At the end of March, an exploration well was spudded on the...

Reverse share split in PA Resources AB (publ)

4/22/2013 2:30 AM EST
Through the resolved reverse share split 500 present shares are consolidated into one share, with record day 2 May 2013. Friday 26 April 2013 is the last trading day for the share before the reverse split and Monday 29 April is the first trading day after the reverse split.
The Extraordinary General Meeting in PA Resources AB (publ) (“PA Resources”) resolved on a reverse share split on April 9, 2013, meaning...

Invitation to presentation of Q1 results on 24 April

4/16/2013 4:00 AM EST
PA Resources will release the interim report for the first quarter 2013 on Wednesday 24 April at 08.15 CET. CEO Bo Askvik will host a webcasted conference call the same morning at 10.00 CET.
The live webcast and presentation material may be accessed on www.paresources.se. An on demand version is also available after the presentation.

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PA Resources AB

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PA Resources AB 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, Unite...

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