PA Resources

Capex

Production

A total of 5,509,000 (1,957,000) barrels of oil was produced during 2007. Average production amounted to 15,093 (5,362) barrels per day.

Production during 2006 amounted to 1, 957,000 (893,000) BOE, of which 1,957,000 (822,000) BOE oil and 0 (71,000) BOE gas.

The average production per day amounted to 5,362 (2,252) BOE oil during full year 2006.

Reserves

The Group’s total proven and probable oil and gas reserves (2P) are estimated to approx. 102.6 million barrels of oil equivalents (BOE) as at December 31st, 2007. This is an increase by 13.7 percent compared to the earlier estimation that amounted to approx. 106.1 million BOE as at January 31st, 2006. Out of the total reserves (2P), 20.8 million BOE is estimated to be proven reserves (1P).

The Group's total proven and probable oil- and gas reserves (2P) are estimated to approx. 106.1 million barrels of oil equivalents (BOE) as of December 31, 2006. This is a reduction with approx. 8.6 percent compared to the earlier estimation that amounted to approx. 116.2 million BOE as of January 1, 2005. Out of this, 23.7 million BOE is estimated to be proven reserves (1P).

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