PRESS RELEASE 18 DECEMBER 2009

PA Resources planned drilling program 2010

The oil- and gas group PA Resources AB's has decided 
on activities for 2010 regarding exploration, 
development and production, which together will lead 
to increased oil reserves and a higher production. 


Exploration for increased reserves 

A total of 10-12 exploration and appraisal wells are 
planned to be drilled during 2010, a majority in the 
second half of the year. PA Resources estimates that 
these wells together contain oil resources amounting 
to approximately 650 million barrels of oil 
equivalents, of which 140 million barrels net to PA 
Resources. 

In the Republic of Congo, two appraisal wells are 
planned to be drilled at the Turquoise discovery in 
2010, which will form the base for decision about 
field development. In addition, an exploration well 
is planned on the interesting Cobalt prospect. In 
Equatorial Guinea, three exploration wells will be 
drilled in Block I and Block H. Earlier exploration 
drillings have been very successful, which increases 
the probability of the outcome of the planned 
drilling program. 

Exploration drillings are also planned for 2010 in 
Tunisia, at the onshore licenses Jenein Centre and 
Jelma as well as the drilling of an additional 
appraisal well of previous discoveries on the 
offshore Zarat license. 
  

Developing new fields 

The development of the Aseng field in Equatorial 
Guinea is ongoing under the management of the 
operator Noble Energy. In 2010 and 2011, a total of 
10 production and injection wells will be drilled. 
First oil is expected in mid 2012. The production 
vessel contracted for Aseng is dimensioned to 
gradually produce from other prospects in the 
surrounding area. The prospect which is next in line 
for development is Belinda and then Diega. The 
operator is working on development plans for these 
prospects. 


Increasing production 

The drilling of the first injection well at the 
Azurite field in the Republic of Congo has been 
completed and the drilling of the second production 
well has started. Thereafter yet another production 
well will be drilled. As previously announced, a 
total of nine wells will be drilled at the Azurite 
field during 2009 and 2010.

PA Resources' total production will more than double 
during the first quarter of 2010 when the Azurite 
field achieves its maximum output of 40,000 barrels 
per day in average, of which 14,000 barrels per day 
net to PA Resources. Meanwhile, the evaluation of the 
oil discovery at Turquoise continuous and a 
development scenario based on the existing 
infrastructure at the Azurite field is being 
developed. 

The Group's drilling program is reviewed continuously 
and communicated in the interim reports.
Stockholm, December 18, 2009
PA Resources AB (publ)


For further information, please contact: 
Ulrik Jansson	Bo Askvik
President and CEO, PA Resources AB	Executive 
Vice President and CFO, PA Resources AB
Telephone: +46 8 21 83 82, +46 70 751 41 84
Mobile: +46 708 19 59 18
E-mail: info@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 today 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 2,420 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 visit [http://www.paresources.se]