STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
PA Resources (STO:PAR) (OSE:PAR) transferred ownership of 70 percent of its interest in the Didon concession to EnQuest on July 11 2014. The cash consideration of USD 23 million, with an interim period adjustment from 1 January 2013, is in escrow pending a positive response from the Tunisian authorities, expected no later than in the fourth quarter of 2014. EnQuest will assume responsibility for Didon operations in accordance with transitional arrangements to assure a seamless handover. The Zarat transaction is still pending.
(A description of the complete transaction was originally announced in the press release on 29 May 2013.)
Stockholm, 14 July, 2014
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 1,312 million in 2013. The share is listed on the NASDAQ OMX 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 a.m. CET on 14 July 2014.
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