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PA Resources announces farm-out of Denmark and German assets

PA Resources is divesting a 40% interest in Licence 12/06 in Denmark and a 56% interest in Licence B20008/73 in Germany to Dana Petroleum.This divestment to wholly-owned subsidiaries of Dana Petroleum plc (“Dana”) is consistent with PA Resource’s (“PA”) earlier announced intention to dilute in these assets, in which PA will retain meaningful interests of 24% in Licence 12/06 and 34% in Licence B20008/73. Dana will assume operatorship shortly following completion in Licence 12/06 and prior to exploration drilling in Licence B20008/73. This transaction is subject to all necessary government

PA Resources announces German licence farmout

PA Resources has farmed out a 10% interest in German licence B20008/73 adjacent to the PA Resources operated Danish licence 12/06 in which the Broder Tuck and Lille John discoveries were made in 2011.PA Resources today announces that subject to the necessary regulatory approvals, its subsidiary PA Resources UK Limited has farmed out a 10% interest in Licence B20008/73 offshore Germany to Danoil Exploration A/S. After the farmout PA Resources will retain a 90% interest. Licence B20008/73 lies partially adjacent to PA Resources operated Danish licence 12/06 (PA Resources 64%, Danoil 8%) in

Danish Licences extended

The Danish Energy Agency has extended by two years Licence 12/06 operated by PA Resources with a 64% working interest and Licence 9/06 (‘Gita’) in which PA Resources holds a 26.8% working interest. PA Resources has elected to withdraw from Licence 9/95 (‘Maja’).The PA Resources-operated Licence 12/06 (64%) which contains the Broder Tuck gas/condensate discovery and Lille John oil discovery resulting from the successful 2011 drilling campaign has now been extended until May 2014. Planning has commenced for a well appraising the Lille John shallow oil discovery, commencing with the award of a

PA Resources’ Interim Report for January - March 2012

SUMMARY · Group revenue amounted to SEK 650 million (583) for the first quarter. · EBITDA for the quarter was SEK 395 million (359). · Profit before tax for the first quarter was SEK 68 million (143).  · Operating cash flow for the first quarter totalled SEK 175 million (142). · After the end of the quarter, a lifting of approximately 520,000 barrels of oil was completed at the Azurite field. · Cash flow for the first quarter together with cash flow from the Azurite lifting have reduced net debt by approximately SEK 580 million to date in 2012. · At the beginning of

PA Resources’ Annual Report for 2011 published

PA Resources’ Annual Report for 2011 has been published today and is available at www.paresources.se.The printed version of the Annual Report will be distributed as from week 16 to those who have notified their interest to ir@paresources.se or at telephone +46 (0) 8 545 211 50. For complete Annual report, see attached pdf-file. Stockholm, 30 March, 2012PA Resources AB (publ) For additional information, please contact: Carolina Haglund StrömlidIR Officer, PA Resources ABTel: +46 (0)8 545 211 50Mobile: +46 (0)708 80 71 73E-mail: ir@paresources.se PA Resources AB (publ)

PA Resources’ Year-End Report 2011

SUMMARY · Group revenue for the fourth quarter amounted to SEK 535 million (698). · EBITDA for the quarter was SEK 306 million (438). · Profit before tax for the fourth quarter amounted to SEK 11 million (91) excluding one-off costs, and SEK -2,024 million (91) including one-off costs. · As previously disclosed, during the fourth quarter non-cash, one-off costs of SEK 2,035 million before tax and SEK 1,758 million after tax were recognised.   · Production of oil commenced on the Aseng field in Equatorial Guinea in early November and is making a cash flow contribution as from

PA Resources confirms oil discovery on Lille John prospect

The oil and gas group PA Resources has now completed its sidetrack of the Lille John well to a Chalk target but did not encounter effective reservoir. The sidetrack provided a second penetration of the Miocene sandstone level encountered in the original well, again oil-bearing and with improved reservoir quality compared to the initial penetration.The exploration sidetrack at the Lille John prospect in Danish Licence 12/06 has been drilled to a total depth of 1,307 meters below mean sea level. It encountered a modest thickness of highly-cemented Chalk with weak hydrocarbon indications, but

PA Resources discovers oil in the Lille John prospect

The oil and gas group PA Resources has made an oil discovery in the Miocene sandstone level in the Lille John prospect in License 12/06 offshore Denmark. The exploration well will now be sidetracked to a Chalk target.The ongoing exploration well at the Lille John prospect has encountered approximately 5 meters of hydrocarbon pay in an overall Miocene sandstone/shale interval of 25 meters thickness at a depth of approximately 900 meters below mean sea level. Initial analyses of logs and samples confirm a sweet, light oil of 34-35 degrees API gravity with a gas:oil ratio of approximately 350

Exploration well at Lille John spudded

The oil and gas group PA Resources continues its drilling campaign in Licence 12/06 in the Danish North Sea with the commencement of drilling of an exploration well at the Lille John prospect.In July an exploration well was drilled on the Broder Tuck prospect on the Danish License 12/06 and gas and condensate was discovered. In August, a side track encountered additional hydrocarbons. The well has now been plugged and abandoned. The drilling rig ENSCO 70 has mobilized to the Lille John prospect, approximately 8 kilometres south of Broder Tuck, and the drilling of the second exploration

PA Resources confirms Danish gas discovery

The sidetrack of the recent gas discovery at the Broder Tuck prospect in Licence 12/06 offshore Denmark has confirmed additional hydrocarbon column whilst sample analyses from the initial exploration well have indicated a higher than expected condensate content.Bo Askvik, President and CEO at PA Resources, comments: “We are pleased to have confirmed additional hydrocarbons with the sidetrack and to be able to update on the condensate content of the gas, which exceeds our expectations and adds value to the find. This is an exciting discovery for PA Resources and we now look forward to the

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