PA Resources’ Production Report for Q1, 2012

PA Resources’ average production of oil per day*

* 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.

• Total oil production in Q1, 2012:                    792,200 barrels
  
• Average sales price in Q1, 2012:                  120 USD per barrel (preliminary)
  
• During the first quarter, PA Resources’ lifted and sold for its own account a total of approximately 500,000 barrels of oil, of which about half were production from the Aseng Field in Equatorial Guinea and the rest from Tunisia. Additionally, after the end of the quarter, on 4 April, a lifting of around 500,000 barrels for PA Resources’ account was completed at the Azurite Field in the Republic of Congo.
  
• At the beginning of March the Aseng Field in Equatorial Guinea reached its higher planned production level of around 60,000 barrels per day (approx. 3,400 barrels per day net to PA Resources on a working interest basis).
  
• During February one well at the Azurite Field in the Republic of Congo experienced a marked decline in production rate and has been flowing at a very low rate during March. This deterioration is not related to the reservoir but is attributed to a partial failure of the completion of the well. Technical and economic analysis of remedial options continues.

Stockholm, 10 April 2012
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 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 10 April 2012.

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