PA Resources AB: Spud of exploration well on Marine XIV licence

Regulatory News:

PA Resources (STO:PAR)(STO:PAR) is pleased to announce that the drilling of exploration well Makouala Marine-1, located offshore in Block Marine XIV Congo (Brazzaville) has started.

The wells’ planned depth is approximately 2,700 metres below mean sea level and will be drilled using the semi-submersible drilling rig ENSCO 5003. The drilling operation is expected to take approximately 30 days. The well is targeting a post-salt Sendji Formation reservoir within a four-way dip closed structure.

As a result of a farmout in 2009, PA Resources’ costs for this well are carried by the other licence partners.

PA Resources has a 12.5% working interest in Marine XIV which is operated by SOCO Exploration and Production Congo SA (29.4%).

Stockholm, 23 November 2011

PA Resources AB (publ)

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), Equatorial Guinea, United Kingdom, Denmark, Greenland, Netherlands and Germany. PA Resources is producing oil in North Africa and West Africa. 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 in Stockholm, Sweden (segment Mid Cap). For additional information, see 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 11.00 CET on 23 November 2011.

This information was brought to you by Cision http://www.cisionwire.com