This report summarizes PA Resources Group production and sales of crude oil and gas during the first quarter 2009.

 

Total production
- Total oil- and gas production in the Group during Q1 2009:  783,000 BOE

 

Crude oil
- Average oil production per day during Q1 2009:   8,700 barrels per day

- Accumulated oil production January - March 2009:  783,000 barrels

- Total oil production during Q1 2009:  783,000 barrels

- Oil sales during Q1 2009:   817,400 barrels

- Average sales price during Q1 2009:  43,47 USD per barrel

 

Gas
- Total gas production during Q1 2009:  0 BOE

 

Comments
- The 2009 production forecast remains unchanged. PA Resources' production forecast is that the average production in 2009 is expected to amount to between 11,000 and 14,000 barrels of oil equivalents per day.

 

- The Didon field in Tunisia has maintained good regularity during the period. Production during the period has been stopped partly or fully during in total 14 days due to planned operations and installation of the Ensco 85 drilling rig at the Didon platform.

 

- A new producer well D10 was spudded successfully on the Didon field by the end of March and drilling continuous with present depth 2,200 meters. The D10 is planned with entry in the central section of the Didon reservoir.

 

- In the period, production of crude oil came from six fields in Tunisia. PA Resources divested its Norwegian subsidiary in the end of December 2008. This has temporarily reduced the Group's total production and sale of oil until the Azurite field in the Republic of Congo starts its production in the summer of 2009.

 

Explanations
- BOE = barrels of oil equivalents

 

Stockholm, April 16, 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

or

Bo Askvik
CFO, PA Resources AB
Mobile: +46 708 19 59 18

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.