PA Resources divests interest in two small Tunisian fields

PA Resources has signed an agreement to divest its working interest in the Ezzaouia and El Bibane oil producing fields in Tunisia for USD 4.0 million (equivalent to approximately SEK 27.5 million).The oil and gas group PA Resources has agreed to divest its 13.6% working interest in the Ezzaouia Field and 23.9% working interest in the El Bibane Field, both located in Tunisia, for USD 4.0 million (prior to closing adjustments). The assets are acquired by Candax Energy Inc., whose subsidiary is a partner as well operator in both fields. The transaction has an effective date of 1st January 2012