PA Resources Clinches Acquisition of 2 Danish Exploration Licenses

PA Resources has formally completed the acquisition of interests in two exploration licenses in Denmark from Shell Olie-og Gasudvinding Danmark B.V.

PA Resources has formally completed the transaction relating to the previously announced acquisition of a 26.8 percent participating interest in both License 9/06 (Gita) and License 9/95 (Maja) on the Danish Continental Shelf from Shell Olie-og Gasudvinding Danmark B.V.

The required approvals have been granted by the relevant Authorities and license partners, and the effective date is January 1, 2008 according to the agreement.

Presently an exploration well is being drilled on the Gita prospect in License 9/06.


 

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