PA Resources has successfully completed a bond issue The oil and gas group PA Resources AB has successfully completed a
new unsecured bond issue of NOK 500 million. The bond loan further
extends PA Resources' financial capacity.
The total amount of the new unsecured bond loan is NOK 500 million
(equivalent to approximately SEK 615 million).
The bonds carry a coupon rate of 3 months NIBOR + 7.50 % and interest
payment days will be in March, June, September and December 2010. The
bonds will be fully repaid on the maturity date in March 2011. PA
Re ...
PA Resources is contemplating issuing a new bond loan The oil and gas company PA Resources AB is contemplating issuing a
new unsecured bond loan of NOK 300 - 500 million.
The total amount of the new bond loan will be a minimum of NOK 300
million and a maximum of NOK 500 million (equivalent to approximately
SEK 369 - 615 million). The new unsecured bond loan will have a
maturity date in March 2011.
- The net proceeds of the bonds will be used for general corporate
purposes as well as to refinance the existing bond loan which expires
in March 2010 ...
PA Resources Financial Calendar 2010 PA Resources AB will report its results during 2010 according to the
following financial calendar:
Year-end Report 2009 (incl. Quarter 4)
February 17, 2010
Annual Report 2009 (pdf version)
March 30, 2010
Interim Report Quarter 1, 2010 (Jan - Mar)
April 28, 2010
Annual General Meeting 2010
May 18, 2010
Interim Report Quarter 2, 2010 (Jan - June)
August 18, 2010
Interim Report Quarter 3, 2010 (Jan - Sept)
October 27, 2010
Year-End Report 2010 (incl. Quarter 4):
February 16, 2011
For additi ...
PA Resources AB's Interim Report for the third quarter 2009:
Production in two regions Summary third quarter 2009
* Total revenue for the Group amounted to SEK 696.5 million, compared
with SEK 680.4 million in the same period a year ago.
* Production was started during the quarter at the Azurite field in
the Republic of Congo, and the Group's total production amounted to
1,244,600 barrels, compared with 819,900 barrels during the second
quarter of 2009.
* EBITDA amounted to SEK 499.0 million (556.3) and the EBITDA margin
was 71.6% (81.8) during the quarter.
* Operating profit amo ...
Invitation to presentation of Interim Report on 28 October PA Resources will release the Interim Report for the third quarter
2009 on Wednesday 28 October at 08.15 CET. The report will be
presented the same morning at 10.00 by President and CEO Ulrik
Jansson together with Executive Vice President and CFO Bo Askvik
through a webcasted conference call.
Web participation
The conference call will be in English and is webcasted live on
www.paresources.se startpage where you can also find the presentation
material. The presentation is also available on dema ...
Production- and Sales Report for Q3, 2009 This report is a preliminary summary of PA Resources' total group
production and sales of crude oil during the third quarter 2009.
Production of crude oil
* Total gross oil
production: 1,244,600
barrels
* Average gross oil production per day:
13,500 barrels per day
* Accumulated gross oil production January - September: 2,847,500
barrels
* Oil sales (excl. royalty):
730,600 barrels
* Average sales
...
Exercise of convertible bonds in PA Resources AB On 5 October 2009, an additional 3,822,013 new shares in PA Resources
AB (publ) were registered with the Swedish Companies Registration
Office as a result of conversions of PA Resources' convertible
2008/2014. Thus, the conversion period for 2009 has been completed.
3,822,013 new shares in PA Resources AB (publ) have been registered
with the Swedish Companies Registration Office as a consequence of
convertible bonds with a nominal value of SEK 61,152,208 being
exercised for conversion. The con ...
Exercise of convertible bonds in PA Resources AB On 30 September 2009, an additional 1,177,206 new shares in PA
Resources AB (publ) were registered with the Swedish Companies
Registration Office as a result of completed conversions of PA
Resources' convertible 2008/2014.
1,177,206 new shares in PA Resources AB (publ) have been registered
with the Swedish Companies Registration Office as a consequence of
convertible bonds with a nominal value of SEK 18,835,296 being
exercised for conversion. The conversion price is 16 SEK per share.
Following ...
Exercise of convertible bonds in PA Resources AB On 25 September 2009, an additional 1,921,362 new shares in PA
Resources AB (publ) were registered with the Swedish Companies
Registration Office as a result of completed conversions of PA
Resources' convertible 2008/2014.
1,921,362 new shares in PA Resources AB (publ) have been registered
with the Swedish Companies Registration Office as a consequence of
convertible bonds with a nominal value of SEK 30,741,792 being
exercised for conversion. The conversion price is 16 SEK per share.
Following ...
PA Resources signs credit facility of USD 125 million The oil and gas company PA Resources AB has entered into a USD 125
million corporate finance facility agreement with Standard Bank.
The new credit facility replaces an existing facility of USD 30
million and represents an extension by USD 95 million to USD 125
million (corresponding to approximately SEK 875 million). This one
year facility is to be refinanced with a structured financing.
"The new credit facility is a result of the Group's continuing
refinancing efforts and will be used to ...
Exercise of convertible bonds in PA Resources AB On 18 September 2009, an additional 1,388,700 new shares in PA
Resources AB (publ) were registered with the Swedish Companies
Registration Office as a result of completed conversions of PA
Resources' convertible 2008/2014.
1,388,700 new shares in PA Resources AB (publ) have been registered
with the Swedish Companies Registration Office as a consequence of
convertible bonds with a nominal value of SEK 22,219,200 being
exercised for conversion. The conversion price is 16 SEK per share.
Following ...
Exercise of convertible bonds in PA Resources AB On 10 September 2009, 2,930,697 new shares in PA Resources AB (publ)
were registered with the Swedish Companies Registration Office as a
result of completed conversions of PA Resources' convertible
2008/2014.
On 10 September 2009, 2,930,697 new shares in PA Resources AB (publ)
were registered with the Swedish Companies
Registration Office as a consequence of convertible bonds with a
nominal value of SEK 46,891,152 being exercised for conversion. The
conversion price is 16 SEK per share.
Follow ...
Bo Askvik appointed Executive Vice President of PA Resources AB The Board of Directors of the oil and gas company PA Resources AB has
decided to appoint the CFO Bo Askvik to Executive Vice President of
the Company.
Bo Askvik joined PA Resources AB in September 2007 when he was
appointed as Chief Financial Officer (CFO). He is since then a member
of the Executive Management Team. The search for a successor as CFO
has been initiated.
Bo Askvik has extensive experience of international capital markets
and as CFO of several listed companies.
Stockholm, 2 Septem ...
PA Resources subsidiary achieves ISO 14001 certification The oil and gas group PA Resources announces that its wholly-owned UK
subsidiary, PA Resources UK Limited, has achieved certification to
the international standard for environmental management, ISO
14001:2004 (E).
The certification is a demonstration that PA Resources UK Limited has
an environmental management system that meets the requirements of the
ISO 14001:2004 (E) standard. The independent accreditation bureau URS
Ltd. has during the certification process undertaken a thorough audit
of th ...
PA Resources farms out interest in licence offshore UK The oil and gas group PA Resources farms out a 48 percent in Seaward
Licence P1529 in the UK Southern North Sea to Venture North Sea Gas
Limited.
PA Resources UK Limited, a wholly-owned subsidiary in the PA
Resources Group, has signed an agreement to farm out a part interest
in Licence P1529 covering offshore Blocks 43/9, 43/10 and 44/6 in the
UK Southern North Sea. Earlier this year, PA Resources increased its
interest in the licence from 40 to 80 percent when a joint venture
partner elected t ...
Conversion period begins for PA Resources convertibles The holders of PA Resources AB's convertible bonds 2008/2014 can
convert them into new shares during the month of September 2009.
A total of 72,757,002 convertible bonds with a nominal amount of SEK
16 per convertible bond were issued at the completion of the new
issue of convertible bonds in January 2009. The convertible loan
amounts to SEK 1,164,112,032 in total. The convertible bonds are
listed both on NASDAQ OMX Nordic Exchange in Stockholm and on Oslo
Stock Exchange.
According to the term ...
PA Resources ABs Interim Report for the second quarter 2009 Increasing production
Summary second quarter 2009
* Total revenue for the Group amounted to SEK 432.1 million (739.2).
Sales revenue was affected by lower oil prices, which at the same
time were counteracted by a stronger USD than in the same period a
year ago.
* Production increased during the quarter, when 819,900 barrels of
oil were produced, compared with 783,000 barrels during the first
quarter of 2009.
* Net profit for the period was SEK 73.6 million (246.3), which is an
improvement over t ...
Registration completed of increased share capital On 26 June 2009, PA Resources AB announced the completion of a
directed new share issue of totally 11 million shares in PA Resources
AB at a subscription price of SEK 26.50 per share. The share capital
increase has now been registered with the Swedish Companies
Registration Office. Following the registration, PA Resource's share
capital is SEK 78,257,002, divided on 156,514,004 shares, each with a
quota value of SEK 0.50.
Stockholm, 13 August 2009
PA Resources AB (publ)
For additional informat ...
Invitation to presentation of Interim Report on 19 August PA Resources will release the Interim Report for the second quarter
2009 on Wednesday 19 August at 08.15 CET. The report will be
presented by CEO and President Ulrik Jansson together with CFO Bo
Askvik at a telephone conference the same day at 10.00 CET.
The telephone conference will be in English. The presentation
material will be published on www.paresources.se where you can also
listen to the conference afterwards. A short web film summarizing the
report will be available on the company's we ...
PA Resources announces first production at Azurite field The initial oil production has commenced at the Azurite field in the
Mer Profond Sud (MPS) block, in territorial water (Atlantic Ocean),
offshore Republic of Congo (Brazzaville). The oil and gas group PA
Resources holds a 35 percent interest in the field.
The Azurite development is located in about 4,500 feet of water and
utilizes the industry's first Floating Production Storage and
Offloading facility with drilling capability (FDPSO). The FDPSO has
storage capacity of 1.3 million barrels of oi ...
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