Profile: PA Resources AB (PAR.ST)

PA Resources AB (PAR) is a Sweden-based company active in the oil and gas industry. It acquires, develops, extracts and sells oil and gas reserves, as well as explores new findings. The Company has operations and owns resources in North Africa, West Africa and the North Sea. The oil and gas production takes place in Tunisia and Norway. The Company plans also producing in the Republic of Congo during 2009. The Company's customers comprise international oil companies, such as Shell and StatoilHydro ASA, as well as international trading companies. Its production during 2008 was equal to over five million barrels of oil equivalents. As of December 31, 2008, the Company operated through seven wholly owned subsidiaries, including Microdrill AB, Hydrocarbures Tunisie El Bibane Ltd, Hydrocarbures Tunisie Corp, PA Resources Overseas Ltd, PA Energy Congo Ltd, PA Resources UK Ltd and Osborne Resources Ltd.