Equatorial Guinea

PA Resources has interest in two exploration licences in the Gulf of Guinea offshore Equatorial Guinea, one of the world's most promising exploration areas. PA Resources is partner in the Aseng Field which commenced production in November 2011 and is now adding a steady cash flow to the Group. Another discovery is under development at the Alen Field, where production is estimated to commence in 2013. Both fields are situated in Block I, where a number of other significant discoveries have been made. 

PA Resources' licences in Ekvatorial Guinea

License Operator Partners
1 Aseng field Noble Energy (38%) Atlas Petroleum (27,55%), Glencore (23,75%), PA Resources (5,7%), GEPetrol (5%)
2 Alen field* Noble Energy (44,65%) GE Petrol (28,75%), Glencore (24,93%), Atlas Petroleum (1,38%), PA Resources (0,29%)
3 Block I Noble Energy (38%) Atlas Petroleum (27,55%), Glencore (23,75%), PA Resources (5,7%), GE Petrol (5%)
4 Block H White Rose Energy (46,31%) Atlas Petroleum (23,75%), Roc Oil (19,0%), PA Resources (5,94%), GEPetrol (5%)

Participating interests are reported inclusive of the rights to participating interests of the state-owned company GEPetrol.
* After unitisation between the two licenses Block O and Block I. 95% of the Alen field is situated in Block O and 5% in Block I. PA Resources has 5.7% working interest in Block I, which results in a 0.285% interest in the Alen field.