First oil from third production well on Azurite field

The third production well on the Azurite oil field in the Mer Profond Sud block in the Republic of Congo has been put on stream.

The third production well has now been put on stream successfully and the operator will increase production levels during the coming two weeks in order to reach planned stable production levels.

The drilling of a second injection well has commenced on the Azurite field. In addition three production wells and one injection well will be drilled and completed in 2010.

Murphy Oil Corporation serves as operator and has a 50 % working interest in the Azurite field and the Mer Profond Sud block. Partners are PA Resources (35 %) and Societe Nationale Petroles du Congo (15 %).

Stockholm, 18 May 2010
PA Resources AB (publ)

For additional information, please contact:
Bo Askvik
Executive Vice President and CFO
PA Resources AB
Telephone: +46 8 21 83 82, +46 70 819 59 18
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 one of the largest oil producers in Tunisia and is also producing oil in the Republic of Congo. The parent company is located in Stockholm, Sweden.

PA Resources' net sales amounted to SEK 2,113 million during 2009. The company is listed on the NASDAQ OMX Nordic Exchange in Stockholm, Sweden (segment Mid Cap) and on the Oslo Stock Exchange in Norway (segment OB Match). For additional information, please visit www.paresources.se.