PA Resources considers Danish offshore appraisal options

PA Resources (PAR) hopes to secure a rig to operate in 2014-15 on Danish North Sea license 12/06.

Offshore staff

STOCKHOLM, Sweden – PA Resources (PAR) hopes to secure a rig to operate in 2014-15 on Danish North Sea license 12/06. The company’s priority is to appraise the Lille John discovery.

Additionally, PAR continues to evaluate developmentoptions for the Broder Tuck field, and in the first half of 2014 the partners expect to decide whether appraisal drilling is warranted or to proceed to detailed engineering design for the field development.

PAR hopes to farm out a 40% interest in the license, reducing its share to 24%.

In the UK North Sea the company operates the Bergman (ex-Fiddich) gas/condensate discovery in block 22/19a, with a 100% working interest. The field was discovered in 1984. Studies are under way to assess the economics of appraisal and/or development.

PAR is in discussion with owners of potential host facilities, with a view to a subsea tieback.

10/28/2013

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