PA RESOURCES: PRODUCTION- AND SALES REPORT JANUARY 2008
This report summarizes production and sales of crude oil and gas in the PA Resources Group during month of January 2008.
Total production
* Total oil- and gas production in the Group during January 2008: 357,500 BOE
Crude oil
* Average oil production per day during January 2008: 11,532 barrels per day
* Total oil production during January 2008: 357,500 BOE
* Accumulated oil production January 2008: 357,500 BOE
* Oil sales during January 2008: 420,000 BOE
- Here of export sales 420,000 BOE
- Here of local sales 0 BOE
* Average sales price during January 2008: 96.19 USD per barrel
Gas
* No gas has been produced or sold during January 2008.
Comments
* Oil has been sold at record high average sales price of 96.19 USD per barrel, to be compared with 85.48 USD for Q4, 2007.
* The average production for January 2008 was 11,532 barrels per day. The subsea well reported to be shut-in due to repair of the control line has been put back in production on the Didon field in week 4. Thanks to this the production increased in the end of the month and the production level was approximately 13,150 barrels of oil per day by the end of January.
* The production regularity on the Didon field in Tunisia was 100 percent for the period January 2008.
* Two new wells will be drilled at the Didon field during the first half of 2008. Thereafter, an exploration programme will start, including possible tieback opportunities to the Didon.
* The Volve field in Norway started production of oil and gas on February 12, 2008.
Explanations
- BOE = barrels of oil equivalents
Oslo/Stockholm, February 13, 2008
PA Resources AB (publ)
For more information, please contact:
Trond Bjerkan
Vice President, PA Resources AB
Telephone: +47 21 56 76 10 or +47 900 55 921
E-mail: info@paresources.no
PA Resources AB (publ) is a fast growing oil and gas group company with the business strategy to acquire, develop and exploit oil and gas reserves, as well as explore new findings. The Group operates in Tunisia, Norway, Great Britain, Denmark, Netherlands, Equatorial Guinea and the Republic of Congo (Brazzaville). PA Resources is today one of the largest oil producers in Tunisia. The parent company is located in Stockholm, Sweden.
PA Resources AB's net sales amounted to approximately SEK 2,751 Million during 2007. The company is primary listed on the Oslo Stock Exchange in Norway (segment OB Match) and secondary listed on the OMX Nordic Exchange in Stockholm, Sweden (segment MidCap). For additional information, please visit www.paresources.se.
