PA Resources awarded German offshore licence
(Thomson Reuters ONE) -
PA Resources announces the award of German offshore licence adjacent to its
Danish Licence 12/06. Two wells will be drilled on the Danish licence in 2011.
The State Office for Mining, Energy and Geology of Schleswig-Holstein has
awarded PA Resources UK Limited the German offshore Licence B20008-73 with 100%
working interest and operatorship. This licence, which will be effective 1st
January 2011, lies in the so-called "duck's bill" or 'entenschnabel' area of the
German North Sea, between Denmark and the Netherlands.
In the first half 2011 PA Resources will be drilling two wells in the Danish
Licence 12/06 (PA Resources 64%, operator), immediately adjacent to this new
licence award and with similar exploration objectives to potential targets in
the new award. These two wells will form important, modern data points to allow
an up to date evaluation of the prospectivity of the German Licence.
Bo Askvik, President and CEO of PA Resources, commented: "This is a logical, low
cost add-on to our Danish position and offers upside potential in the event of
success in our 2011 Danish drilling campaign. Our focus is on exploring the
basin rather than being limited by national boundaries and this award
complements and builds upon our Danish position".
Stockholm, 3 January 2011
PA Resources AB (publ)
For more information, please contact:
Bo Askvik
President and CEO, PA Resources AB
Telephone: +46 708 19 59 18
E-mail:ir(at)paresources.se
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, United Kingdom, Denmark,
Greenland, Netherlands, Equatorial Guinea and the Republic of Congo
(Brazzaville). 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 2,113 million during 2009. The company
is listed on the NASDAQ OMX Nordic Exchange in Stockholm, Sweden (segment Mid
Cap) and on the Oslo Stock Exchange in Norway (segment OB Match). 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 08.30 CET on 3 January, 2011.
Complete press release:
http://hugin.info/130006/R/1476338/412439.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: PA Resources AB (publ) via Thomson Reuters ONE
[HUG#1476338]
Unternehmensinformation / Kurzprofil:
Datum: 03.01.2011 - 08:31 Uhr
Sprache: Deutsch
News-ID 50162
Anzahl Zeichen: 3405
contact information:
Town:
Stockholm
Kategorie:
Business News
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"PA Resources awarded German offshore licence"
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