The operator has completed the drilling of the exploration well Gita-1X in the Danish North Sea. The well encountered Middle Jurassic sandstone layers containing hydrocarbons. The result will now be further evaluated. PA Resources has 26.8 percent interest in the licenses concerned.

 

The operator Mærsk Olie og Gas AS has drilled the Gita-1X exploration well about 10 kilometres south of the Harald field in the Danish part of the North Sea. Gita-1X was drilled as a vertical well and reached its total depth at 5,162 metres below mean sea level in layers of Middle Jurassic age.

 

The well encountered Middle Jurassic sandstone layers containing hydrocarbons. A number of measurements were carried out for further evaluation of the result of the well.

 

The well was spudded 16 December 2008 with the jack-up rig ENSCO 101 in a water depth of 49 metres in License 9/95. The well is now being plugged and abandoned.

 

The well was drilled in cooperation between the Licensees in licence 9/95 and the adjoining licence 9/06. The two groups participated with 50 percent each.

 

The licence partners in Licence 9/95 are A.P. Møller Mærsk A/S (31.2 %), PA Resources AB (26.8 %), DONG E&P A/S (20 %), Altinex Oil Denmark A/S (12 %) and Danoil Exploration A/S (10 %). The licence partners in Licence 9/06 are A.P. Møller Mærsk A/S (31.2 %), PA Resources AB (26.8 %), Altinex Oil Denmark A/S (12 %), Danoil Exploration A/S (10 %) and Nordsøfonden (20 %).

 

Stockholm, April 15, 2009
PA Resources AB (publ)

For more information, please contact:
Ulrik Jansson
President and CEO
PA Resources AB
Mobile: +46 70 751 41 84
E-mail: info@paresources.se

 

PA Resources AB (publ) is an international oil and gas group with the business strategy to acquire, develop, exploit and divest oil and gas reserves, as well as explore new findings. The Group operates in Tunisia, United Kingdom, Denmark, Greenland, Netherlands, Equatorial Guinea and the Republic of Congo (Brazzaville). PA Resources is today one of the largest oil producers in Tunisia. The parent company is located in Stockholm, Sweden.

PA Resources net sales amounted to SEK 2,420 Million during 2008. The company is primary listed on the Oslo Stock Exchange in Norway (segment OB Match) and secondary listed on the NASDAQ OMX Nordic Exchange in Stockholm, Sweden (segment Large Cap). For additional information, please visit www.paresources.se.