STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
PA Resources AB (STO:PAR) (OSE:PAR):
Average production of oil per day
| Working interest* | Net Entitlement** | ||||||||
| (barrels per day) | Q4 2014 | Q1 2015 | Q4 2014 | Q1 2015 | |||||
| West Africa | 2,240 | 2,070 | 1,780 | 1,720 | |||||
| North Africa*** | 690 | 1,290 | 660 | 1,200 | |||||
| Group Total | 2,930 | 3,360 | 2,440 | 2,920 | |||||
* 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.
** Production based on Net entitlement, which is PA Resources’ share after the application of terms of the Production sharing contract.
*** Due to the termination of the farm-out agreement of a 70 percent interest in the Didon field to EnQuest, PA Resources’ working interest in the Didon field is 100% as of 2015. The production figures for Q4 2014 relate to 30% of Didon.
· Total oil production in Q1, 2015: 303,000 barrels
· Average sales price in Q1, 2015: 54 USD per barrel (preliminary)
· In order to provide comparability, Q4 working interest production in North Africa would have amounted to 1,520 if 100% of Didon had been included.
Stockholm, 8 April 2015
PA Resources AB (publ)
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, 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 603 million in 2014. The share is listed on the NASDAQ in Stockholm, Sweden. 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 am CET on 8 April 2015.
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