Announcement from Extraordinary General Meeting (second control meeting) in PA Resources AB on 27 October 2015

PA Resources AB (publ) held an extraordinary general meeting (second control
meeting) on 27 October 2015 in Stockholm. What follows is a summary of the
resolutions passed. The proposals are available in full on the company’s website
www.paresources.se.

Determination whether the company is to go into liquidation (second control
meeting)

The board of the company has prepared a second balance sheet for liquidation
purposes which shows that the company's registered share capital has been
restored. The general meeting resolved that the company must not go into
liquidation with the result that the company will continue its operations.

Ratification of agreements

The general meeting resolved pursuant to the board’s proposal to ratify the
agreements that the company has entered into and the decisions made by the board
of directors in respect of measures taken by the company as of 26 March 2015 and
during the corporate reorganisation of the company.

Delisting

The general meeting resolved pursuant to the board’s proposal that the company
shall take all measures required for the company to be delisted when the board
deems it appropriate and practicable.

Incentive programme for senior executives

The general meeting resolved pursuant to the board’s proposal on an incentive
programme for senior executives in the company which, in sum, will entitle the
executives to a cash bonus, under certain conditions, equivalent to a certain
percentage of sales revenues for group assets.

Election of board of directors

The general meeting decided pursuant to the proposal from the nomination
committee to re-elect Paul Waern, chairman of the board, and Mark McAllister and
to elect Catharina Nystedt-Ringborg and Garrett Soden as new board directors.

The general meeting also resolved that remuneration to the newly elected
directors will be SEK 160,000 each.

Authorisation for the board of directors

The general meeting resolved pursuant to the board’s proposal to authorise the
board to take all measures required for the company to fulfil its commitments
under the reorganisation plan and the agreements that the company has entered
into as of 26 March 2015 and during the corporate reorganisation of the company.

Resolution on amendment of the objective of the company’s business in the
articles of association

The general meeting resolved pursuant to the board’s proposal to amend section 3
of the articles of association so that the object of the company’s business is:

“The company shall itself, through affiliated companies or in collaboration with
others pursue prospecting business, extract oil and gas and own and administer,
including buying and selling, concessions, stocks and shares in companies who
pursue prospecting- and extracting business and be engaged in other activities
related thereto.”

Amendment of the articles of association and reduction of share capital

The general meeting resolved pursuant to the board’s proposal to amend the
company's articles of association so that the share capital shall be not less
than SEK 500,000 and not more than SEK 2,000,000 and to reduce the share capital
with SEK 10,516,799.20, without redemption of shares, to cover losses. The share
capital will amount to SEK 800,000 after the reduction.

Stockholm 27 October, 2015
PA Resources AB (publ)

For additional information, please contact:

Petter Hjertstedt, Investor Relations
Phone:   +46 8 545 211 50
E-mail:   ir@paresources.se

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), United Kingdom, Denmark,
Netherlands and Germany. PA Resources has oil production in Tunisia. 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 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 11:35 CET 27 October 2015.