PA RESOURCES: PA RESOURCES MOVES TO LARGE CAP
The oil and gas company PA Resources changes market segment from Mid Cap to Large Cap on the Nordic Exchange with effect from July 1, 2008. The segment Large Cap includes companies whose shares have a market value of 1 billion euro or more.
- The step from Mid Cap to Large Cap is indeed an important and exciting milestone in PA Resources development.
It shows the capital market and our shareholders that PA Resources business and assets are valued on a level comparable with many of the largest and most well-known listed companies in Sweden, says Ulrik Jansson, President
and CEO at PA Resources.
PA Resources sales have doubled almost six times and the profit has increased with more than 700 percent during the latest three years. New licences for exploration and production have been acquired or assigned to PA Resources in several new countries. The interest for PA Resources' shares has also increased strongly, for example among institutional investors.
- Today, PA Resources has a market cap amounting to approximately SEK 10 billion (equivalent to approx. euro 1.1 billion). We believe that the interest for trading our shares will last, as the oil business is a very exciting business where there still are great possibilities for value growth, says Ulrik Jansson.
PA Resources is primary listed at the Oslo Stock Exchange in Norway since October 2000, and secondary listed at the OMX Nordic Exchange since June 2006. Between September 1998 and June 2006 the company was listed at the market place Nordic Growth Market in Sweden.
Oslo/Stockholm, June 25, 2008
PA Resources AB (publ)
For more information, please contact:
Ulrik Jansson
President and CEO
PA Resources AB
Mobile: +46 70 751 41 84
E-mail: info@paresources.se
or
Bo Askvik
CFO, PA Resources AB
Telephone: +46 708 19 59 18
E-mail: info@paresources.se
PA Resources AB (publ) is a fast growing oil and gas group 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, Greenland, 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 2,794 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 Mid Cap). For additional information, please visit www.paresources.se.
