PA Resources has executed a sale and purchase agreement with ETAP, the Tunisian national oil company

PA Resources AB (“the Company”) is pleased to announce that its wholly owned subsidiaries, PA Resources Tunisia Limited, Hydrocarbures Tunisie Didon Limited, Hydrocarbures Didon Jersey Limited and Hydrocarbures Tunisie Corporation, have executed a sale and purchase agreement with ETAP, The Tunisian national oil company, to sell their entire licence interests onshore and offshore Tunisia, to ETAP.

The sale is subject to customary government consents but the Company does not anticipate any issues given the identity of the buyer.

The consideration for the sales is cash and the amount is confidential, however once received it will be disbursed in accordance with the provisions of the Composition Plan adopted by Stockholm District Court on 2nd October 2015 which became final and binding on 24th October 2015.

Stockholm 9 May, 2016
PA Resources AB (publ)

For additional information, please contact:
Slimane Bouabbane, VP Business Development / Acting CFO
Phone:   +46 8 545 211 50
E-mail:   ir@paresources.se

The information was published at 15:45 CET 9 May 2016.

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).

Subscribe

Documents & Links