PA Resources’ Production report for May, 2011
PA Resources’ average production of oil per day*
|
(barrels per day) |
Year to Date 2011 |
May 2011 |
|
West Africa |
5,700 |
4,700 |
|
North Africa |
3,500 |
3,500 |
|
Group Total |
9,200 |
8,200 |
* Production based on Working Interest, which is PA Resources’ share of the total gross production
on the oil fields before deduction of royalties and other taxes. Data for May is preliminary.
- West Africa: The drilling of the final production well at the Azurite field in the Republic of Congo was completed and the well was brought into production earlier this week (see press release from 8 June). The planned development of the Azurite Field is thereby completed.
Production in May at the Azurite field in the Republic of Congo continued to be impacted by the drilling and completion work at the field. To be able to drill the last production well, one well was taken out of production in April and May to be sidetracked to a new location. Production has therefore been reduced during this period.
- North Africa: The Didon Field in Tunisia has also during the month of May produced primarily from two of its wells.
Stockholm, 9 June 2011
PA Resources AB (publ)
For additional information, please contact:
Bo Askvik
President and CEO, PA Resources AB
Mobile: +46 70 819 59 18
E-mail: info@paresources.se
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 one of the larger 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 2,227 million during 2010. The company is listed on the NASDAQ OMX Nordic Exchange in Stockholm, Sweden (segment Mid Cap). For additional information, see 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 09.30 CET on 9 June 2011.