07.10.2014 08:37:00
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PA Resources AB: PA Resources’ Production Report for Q3, 2014
Regulatory News:
PA Resources AB (STO:PAR)(OSE:PAR) :
Average production of oil per day
Working interest* | Net Entitlement** | |||||||||||||||
(fat per dag) | Q2 2014 | Q3 2014 | Q2 2014 | Q3 2014 | ||||||||||||
West Africa | 2,400 | 2,400 | 2,000 | 1,900 | ||||||||||||
North Africa*** | 800 | 700 | 700 | 700 | ||||||||||||
Group Total | 3,200 | 3,100 | 2,700 | 2,600 | ||||||||||||
* 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.
*** Subject to the necessary approvals, PA Resources working interest in the Didon field in Tunisia has been reduced from 100% to 30% through the farm-out transaction with EnQuest. The production figures above relates to the 30%.
· Total oil production in Q3, 2014: 286,000 barrels
· Average sales price in Q3, 2014: 100 USD per barrel (preliminary)
· The first Didon Field Electrical Submersible Pump (ESP) successfully installed and started during last week of the quarter
· PA Resources’ next production report to be issued on 8 January, 2015.
Stockholm, 7 October 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 1,049 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 am CET on 7 October 2014.
This information was brought to you by Cision http://news.cision.com
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