PA Resources Applies for Listing on Oslo Stock Exchange

PA Resources AB's board of directors has decided to apply for listing of the company at the Stockholm Stock Exchange's O-list instead of at the Nordic Growth Market in Sweden. The listing of the company will be realized during the first half of 2006.

The oil and gas company PA Resources AB is primary listed at the Oslo Stock Exchange's SMB-list since the 12th of October 2001.The company is secondary listed at the Nordic Growth Market in Sweden since September 18, 1998.

The value of the stock has increased strongly during the last years. The price of the share at NGM was SEK 1.05 in the beginning of January 2003 and has since then increased to today's level SEK 33.This has created a huge interest for the share at the stock market. The company has also grown during the last years.

Due to the growth of PA Resources we are now ready to enter the O-list. This is a way for us to enhance the possibility for institutional ownership in the company. We also want to secure the company's financial strength in a long term perspective, says Ulrik Jansson, President and CEO, PA Resources AB.