PA Resources Provisionally Awarded Blocks in UK Licensing Round
November 13 2014 - 4:39AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Swedish oil and gas company PA Resources AB (PAR.SK)
said Thursday it has been successful in the U.K.'s 28th Seaward
Licensing Round and has been provisionally awarded Blocks 22/18c
and 22/19d as part of a group comprising of PA Resources (25%),
E.On (40%), Cairn Energy's wholly-owned subsidiary Nautical
Petroleum (25%) and First Oil and Gas (10%).
The awarded blocks lie adjacent to PA Resources' Block 22/19a
which contains an undeveloped gas and condensate discovery.
Whilst PA Resources operated the UK 28th Round licence
evaluation and application, E.On will assume operatorship on
award.
Blocks 22/18c and 22/19d contain the large Ekland prospect on
which the group has bid a firm exploration well in the initial four
year licence term.
At 0907 GMT shares traded 3.3% higher at SEK2.50.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@WSJNordics
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