PA Resources AB's Interim Report for the third quarter 2009:
Production in two regions
(Thomson Reuters ONE) - Summary third quarter 2009* Total revenue for the Group amounted to SEK 696.5 million, comparedwith SEK 680.4 million in the same period a year ago.* Production was started during the quarter at the Azurite field inthe Republic of Congo, and the Group's total production amounted to1,244,600 barrels, compared with 819,900 barrels during the secondquarter of 2009.* EBITDA amounted to SEK 499.0 million (556.3) and the EBITDA marginwas 71.6% (81.8) during the quarter.* Operating profit amounted to SEK 247.3 million (455.0), giving anoperating margin of 35.5% (66.9).* Profit before tax was SEK 114.9 million (224.5). Earnings per sharebefore dilution amounted to SEK 0.16 (0.40), and earnings per shareafter dilution were SEK 0.16 (0.40).* Total capital expenditures amounted to SEK 26.1 million, comparedwith SEK 1,048.1 million during the same period a year ago. The lowerrate of investment is due to the fact that most of the investmentsahead of the production start at the Azurite field have beencompleted.* The debt/equity ratio has fallen to 69.9% (104.5) and was at thesame time lower than at the start of the year after expenditures ofSEK 1,736 million during the period January-September.* Approximately 15% of the convertible bonds were converted to sharesin September, which entailed that the original debt amount totallingSEK 1,164 million decreased by nominal SEK 179.8 million. Theequity/assets ratio improved to 48.0% (39.7).* Oil discovery has been confirmed at the Mer Profond Sud licenceoffshore the Republic of Congo and the development of the Aseng fieldin Equatorial Guinea has been initiated.Comments from Ulrik Jansson, President and CEO at PA Resources:- During the third quarter we delivered higher production and at thesame time achieved better diversification of production in twogeographic regions. This, combined with a lower rate of investmentand a higher and more stable oil price, entails that the conditionsfor the rest of the year and 2010 have improved.Stockholm, 2009-10-28PA Resources AB(For the complete Interim Report, see the attached file)For more information, please contact:Ulrik JanssonPresident and CEO, PA Resources ABTelephone: +46 8 21 83 82 (switchboard)E-mail: ir(at)paresources.seorBo AskvikExecutive Vice President & CFO, PA Resources ABTelephone: +46 8 21 83 82 (switchboard). Mobile: +46 708 19 59 18E-mail: bo.askvik(at)paresources.sePresentation of Interim Report on October 28, 2009PA Resources will release the Interim Report for the third quarter2009 on Wednesday 28 October at 08.15 CET. The result will bepresented at a web casted conference call at 10.00 by Ulrik Jansson,President and CEO and Bo Askvik, Executive Vice President and CFO.The conference call will be in English. To participate live, pleaseuse the web link at www.paresources.se or call one of the followingnumbers:Sweden: +46 (0)8 505 598 53UK: +44 (0)203 043 24 36US: +1 866 458 40 87The presentation and the conference call are also available on demandafterwards at www.paresources.se.PA Resources AB (publ) is an international oil and gas group with thebusiness strategy to acquire, develop, exploit and divest oil and gasreserves, as well as explore new findings. The Group operates inTunisia, United Kingdom, Denmark, Greenland, Netherlands, EquatorialGuinea and the Republic of Congo (Brazzaville). PA Resources is todayone of the largest oil producers in Tunisia. The parent company islocated in Stockholm, Sweden.PA Resources' net sales amounted to SEK 2,420 Million during 2008.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 visitwww.paresources.se.http://hugin.info/130006/R/1350553/325931.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 28.10.2009 - 08:15 Uhr
Sprache: Deutsch
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Production in two regions"
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