PA Resources’ Production Report for May 2012
Average production of oil per day*
|(barrels per day)
||Year to Date 2012
* 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 Aseng Field in Equatorial Guinea continued to produce at a level above 60,000 barrels per day (approximately 3,500 barrels per day net to PA Resources).
- The planned shutdown for a week for maintenance work on the Azurite Field in the Republic of Congo was successfully performed at the end of May. Production has in early June returned to its former levels.
The operator of the field is also evaluating a number of remedial options to replace or reinstate the failed production well (as earlier communicated). However there is currently no forward plan agreed by the partners in the field.
- The three small onshore fields Tamesmida, Douleb and Semmama in Tunisia have been shut-in due to social instability in the area. Negotiations with local authorities are conducted by the operator Serept, to whom PA Resources has outsourced the operatorship. Before the shut-ins, the fields were together producing approximately 500 barrels per day.
Stockholm, 5 June 2012
PA Resources AB (publ)
For additional information, please contact:
Nicolas Adlercreutz, CFO PA Resources AB
Tel: +46 8 545 211 50 E-mail:
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 5 June 2012.