PA Resources Awarded New Licence in Netherland

Source: www.gulfoilandgas.com 7/7/2009, Location: Europe

PA Resources has been awarded an additional exploration licence onshore Netherlands. PA Resources will hold a 50 percent interest in the new licence, which expands the Group's acreage position in the Netherlands.

PA Resources announces that it, together with its partner Smart Energy Solutions B.V. (SES), has been awarded the Schagen licence in the Netherlands. Each party will hold a 50 percent interest and SES will act as operator for the licence. Schagen is an onshore exploration licence which extends a short distance into Dutch territorial water and covers a total area of 355.5 square kilometres. The licence is effective from 19th June 2009. The licence has a 4-year duration and existing 3D seismic survey coverage and the commitment is to drill a single exploration well.

In 2008 PA Resources was awarded shares in two exploration licences, firstly in Block Q7 and subsequently in Block Q10a. Block Q7 contains an earlier gas discovery and a number of other interesting prospects. PA Resources holds 30 percent interest in both licences.


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