PA Resources’ Interim Report January - March 2013

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 Carla South prospect in Block I in Equatorial Guinea.
  • After the end of the quarter, PA Resources was granted an additional 50% of the Mer Profonde Sud licence in the Republic of Congo, and the licence was extended, which will enable further evaluation of the area.

FINANCIAL KEY RATIOS

Q1 2013 Q1 2012 Jan.-Dec. 2012
Revenue (SEK million) 446 650 2,184
EBITDA (SEK million) 242 395 1,255
EBITDA margin 54.4% 60.8% 57.5%
Operating profit (SEK million) * 169 214 684
Operating margin * 37.8% 33.0% 31.3%
Profit before tax (SEK million) * 131 68 85
Profit for the period 34 -31 -1,966
Earnings per share after dilution (SEK) 0.003 -0.04 -1.93

*Figures for the three-month period 2013 exclude non-cash, one-off costs of SEK 21 million (0) before and after tax. Figures for the full year 2012 exclude non-cash, one-off costs of SEK 1,748 million before and after tax.

For the complete Interim Report, see attached file.

Webcast conference call
PA Resources' results for the first quarter 2013 will be presented on 24 April 2013 at 10 a.m. (CET) via a webcasted conference call. Use the following link to participate: http://storm.zoomvisionmamato.com/player/paresources/objects/2hjgf1mb/

To participate via phone, please call:
SE: +46 8 505 564 74, UK: +44 203 364 5374, US: +1 855 753 2230

Stockholm, 24 April, 2013
PA Resource AB (publ)

For queries, please contact:
Bo Askvik, President and CEO, PA Resources, +46 8 545 211 50

PA Resources AB (publ) 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 2,184 million in 2012. The company is listed on the NASDAQ OMX in Stockholm, Sweden. 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 8.15 a.m. CET on 24 April, 2013.

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About Us

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, 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).

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