An oil discovery has been made at the Turquoise Marine-1 prospect in
the Mer Profond Sud Block offshore the Republic of Congo. PA
Resources holds a 35 percent working interest in the block.
The operator Murphy Oil has today announced an oil discovery at the
Turquoise Marine-1 prospect located in the Mer Profond Sud Block,
offshore the Republic of Congo. The well was drilled in 1,610 meters
of water to a total measured depth of 3,675 meters and encountered in
excess of 41 meters of net oil pay. The Turquoise Marine-1 discovery
is located approximately 28 kilometres from the Azurite field, in
which PA Resources is a 35 percent licence partner.
- Turquoise Marine-1 is an important oil discovery for PA Resources -
it's our second discovery in the Mer Profond Sud Block. We will be
looking at appraisal and development options for Turquoise Marine-1
in the coming months and will be seeking to optimize the existing
Azurite field infrastructure, says Ulrik Jansson, President and CEO
at PA Resources.
The rig now moves to the Diamant Marine-1 prospect which lies even
closer to the Azurite field.
Murphy Oil Corporation serves as operator and has a 50 percent
working interest in Turquoise Marine-1 and the Mer Profond Sud block.
Partners are PA Resources (35 percent) and Société Nationale des
Pétroles du Congo (15 percent).
Stockholm, 17July 2009
PA Resources AB (publ)
For additional information, please contact:
Ulrik Jansson
President and CEO
PA Resources AB
Telephone: +46 70 751 41 84
or
Bo Askvik
CFO
PA Resources AB
Telephone: +46 70 819 59 18
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. The parent company is
located in Stockholm, Sweden.
PA Resources' net sales amounted to SEK 2,420 Million during 2008.
The company is primary listed on the Oslo Stock Exchange in Norway
(segment OB Match) and secondary listed on the NASDAQ OMX Nordic
Exchange in Stockholm, Sweden (segment Mid Cap). For additional
information, please visit www.paresources.se.
