FIRST NINE MONTHS

  • Group revenue totalled SEK 210 million (515)
  • EBITDA was SEK 454 million (327)
  • Profit for the period was SEK 829 million (-212)
  • Earnings per share were SEK 7.32 (-1.87)
  • Profit for the period was impacted by non-recurring items of SEK 1,093 million (0)

THIRD QUARTER

  • Group revenue totalled SEK 29 million (155)
  • EBITDA was SEK 3 million (104)
  • Profit for the period was SEK 609 million (-138)
  • Earnings per share were SEK 5.38 (-1.22)
  • Profit for the period was impacted by non-recurring items of SEK 630 million (0)

KEY EVENTS DURING THE QUARTER

  • The corporate reorganisation was extended until 28 September 2015.
  • PA Resources held its Annual General Meeting on the 28 July 2015 and a new board of directors was elected.
  • PA Resources published its Reorganisation Plan and submitted a request for composition proceedings.
  • PA Resources bondholders voted to approve the reorganisation plan.
  • Notice has been given to the shareholders of the Extraordinary General Meeting (second meeting for liquidation purposes) to be held on the 27 October 2015. At the meeting the balance sheet for liquidation purposes will be presented.
  • Due to continued uncertainty regarding the availability of long-term financing PA Resources' board of directors has opted to prepare the company's financial accounts without the assumption of a going concern effective per 30 September 2015.

SUBSEQUENT EVENTS

  • The Stockholm District Court adopted the composition plan and approved PA Resources request to terminate the corporate reorganisation.
  • The corporate reorganisation was terminated on 24 October 2015 when the adopted composition plan became final and binding.

FINANCIAL KEY RATIOS

Jul-SepJan-SepFull year
20152014201520142014
Average production, barrels/day 1,100 3,100 1,900 3,200 3,100
Revenue, SEK million 29 155 210 515 603
EBITDA, SEK million 3 104 454 327 -481
EBITDA margin, % 9% 67% 216% 64% -80%
Operating profit, SEK million -1,737 48 -1,323 189 -2,667
Profit for the period, SEK million 609 -138 829 -212 -2,957
Earnings per share before dilution, SEK 5.38 -1.22 7.32 -1.87 -26.13

FINANCIAL CALENDAR

EGM 27 October 2015
Year-end Report (January-December) 3 February 2016

CONTACT

Queries concerning this report can be directed to:

Tomas Hedström, CFO
+46 8 545 211 50
ir@paresources.se

Mark McAllister, President and CEO
+46 8 545 211 50
ir@paresources.se

DISCLOSURE

The information in this interim report is such that PA Resources AB is required to disclose pursuant to the Securities Market Act and Financial Instruments Trading Act. Submitted for publication at 08:30 a.m. (CET) on 26 October 2015.

PA Resources AB (publ) is an international oil and gas group that conducts exploration, development and production of oil and gas assets. The Group operates in Tunisia, the Republic of Congo (Brazzaville), the United Kingdom, Denmark, the Netherlands and Germany. PA Resources produces oil in Tunisia. The parent company is located in Stockholm, Sweden. PA Resources' shares are listed on NASDAQ in Stockholm, Sweden. For further information, please visit www.paresources.se.

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