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2015-12-22

PA Resources AB: PA Resources expects to report a significant impairment charge in year-end report for 2015

As announced on the 17 November 2015, PA Resources is in the process
of selling its portfolio of oil and gas assets. It is now clear that
in the current severely depressed market for oil and gas assets, the
market value of the company's assets is significantly lower than the
book values published in the interim report for the third quarter of
2015. An estimate of the impairment charge to be included in the
year-end report for 2015 will be disclosed once the final realisable
values are known.

The lower than expected value of the assets will negatively impact the
available cash flow for creditors under the adopted Reorganisation
Plan. In addition, the board of directors believes that the asset
sales process will not generate any proceeds for distribution to
shareholders.

Stockholm 21 December, 2015
PA Resources AB (publ)

For additional information, please contact:

Petter Hjertstedt, Investor Relations
Phone: +46 8 545 211 50
E-mail: ir@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 08:35 CET 21 December 2015.

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http://news.cision.com/pa-resources-ab/r/pa-resources-expects-to-report-...
http://mb.cision.com/Main/790/9888156/459371.pdf

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