STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
PA Resources’ (STO:PAR)(OSE:PAR) average production per day*
| (barrels per day) | Year to date 2011 | February 2011 | January 2011 | ||||
| West Africa | 6,800 | 6,400 | 7,150 | ||||
| North Africa | 3,800 | 3,750 | 3,900 | ||||
| Group total | 10,600 | 10,150 | 11,050 |
* Production based on Working Interest, which is PA Resources’ share of the total gross production on the oil fields before deduction of royalty and other taxes. Production figures are preliminary.
Comments
The production at the Azurite field in the Republic of Congo has in February been negatively impacted by planned pump replacement activities, but the development drilling at the Azurite continues according to plan:
· The drilling of the third water injection well was ongoing in January and February. The injector was completed and taken into operation in second half of February.
· In connection with the subsea activities in February, the field’s two subsea pumps have been removed for repair, and one replacement pump installed.
· The poorly performing second production well is being abandoned to be replaced by the last planned production well, drilling of which has commenced.
Stockholm, 8 March 2011
PA Resources AB (publ)
PA Resources AB (publ) is an international oil and gas group with the business strategy to acquire, develop, exploit and divest oil and gas reserves, as well as explore new findings. The Group operates in Tunisia, Republic of Congo (Brazzaville), Equatorial Guinea, United Kingdom, Denmark, Greenland, Netherlands and Germany. PA Resources is one of the largest oil producers in Tunisia and is also producing oil in the Republic of Congo. The parent company is located in Stockholm, Sweden. PA Resources’ net sales amounted to SEK 2,227 million during 2010. The company is listed on the NASDAQ OMX Nordic Exchange in Stockholm, Sweden (segment Mid Cap). 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 09.15 CET on 8 March 2011.
This information was brought to you by Cision http://www.cisionwire.com