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2016-02-11

PA Resources AB: PA Resources divests its North Sea assets to Petrogas

PA Resources AB (the company) has signed an agreement to divest its
portfolio of North Sea assets to Petrogas E&P. The sale includes the
company's 24% interest in license 12/06 in Denmark, which holds the
Broder Tuck and Lille John discoveries, as well as its exploration
licenses in the UK, Germany and the Netherlands. The transaction,
which is subject to regulatory approvals, is expected to close during
the first quarter of 2016.

The proceeds from the sale will be used to repay creditors in
accordance with the composition plan adopted in October 2015.

Petrogas E&P is a privately held international oil and gas group
headquartered in Oman and with operations in the Middle-east, Africa
and Europe.

Stockholm 9 February, 2016
PA Resources AB (publ)

For additional information, please contact:

Slimane Bouabbane, VP Business Development
Phone: +46 8 545 211 58
E-mail: ir@paresources.se

The information was published at 10:30 CET 9 February 2016.

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http://news.cision.com/pa-resources-ab/r/pa-resources-divests-its-north-...
http://mb.cision.com/Main/790/9910546/474432.pdf

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