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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?

To: El Canadiense who wrote (9964)	6/5/2005 5:44:45 PM
From: Crossy	Respond to of 37387

re: PA Resources (PAR.OL) 53 NOK Well, if valuation was only derived by the factor "P1+P2 reserves" then this would be a reason for PAR.OL to triple rather soon to 130 NOK (I took the 43NOK as a starting point - this was the trading price before the announcement).. However production figures are another part of the equation... That's the reason why I think we should get to 80-100 NOK until fall when some high impact drilling activities are slated to take place or until they announce a frugal acquisition (with frugual I mean terms like the Soco Tunisia purchase back then). PA Resources seems rather relaxed playing their "aces".. I hope that they will be able to land some nice deals also.. with all that cash in the bank... Looks like out Summer in Southern and Central Europe will get even hotter thanx to Scandinavian black gold.. <g> CROSSY

To: El Canadiense who wrote (9964)	6/14/2005 3:35:59 AM
From: Crossy	Read Replies (1) \| Respond to of 37387

re: PA Resources (PAR.OL - NOK 55) 10% stake in VOLVE field Ok looks like PAR.OL bought a 10% stake in the VOLVE offshore Field (Norway Continentnal shelf) and the surrounding acreage for $31m USD. P2 reserves of 7MMBOE net to the company were acquired in the process plus upside from additional leads on the blocks. Looks good ! rgrds CROSSY yahoo.reuters.com Sweden's PA resources gets first N.Sea oil stake Tue Jun 14, 2005 03:08 AM ET OSLO, June 14 (Reuters) - Small Swedish oil and gas group PA Resources (PAR.OL: Quote, Profile, Research) said on Tuesday that it was buying a 10 percent stake in a Norwegian North Sea oilfield from France's Total (TOTF.PA: Quote, Profile, Research) for 205 million crowns ($31.53 million). PA Resources, which operates mainly in Tunisia, said the holding in the Volve field would be its first in the North Sea. Volve is due to start up in 2007 with plateau output of 50,000 barrels per day. "This is a first, positive and important step in establishing PA Resources on the Norwegian continental shelf and in the North Sea," Ulrik Jansson, chief executive of PA Resources, said in a statement. Proven and probable reserves at Volve were 70 million barrels of oil, or seven million for PA Resources, it said. The Swedish company, listed on the Oslo bourse, said there was a "substantial upside potential" in Volve and nearby prospects covered by the purchase price. The 205 million crowns acquisition implies a cost of 29 crowns ($4.46) per barrel for the basic seven million barrels. Norwegian oil group Statoil (STL.OL: Quote, Profile, Research) is operator of Volve and won a green light from the Norwegian government in April to develop the field, about 240 km (149.1 miles) west of the port of Stavanger. Statoil has estimated development and operating costs at about seven billion crowns, including two billion investments. PA Resources said the purchase would raise its total proven and probable reserves to 38 million barrels of oil equivalents, a rise of 23 percent. PA Resources shares closed at 55 crowns on the Oslo bourse on Monday, near a 2004 peak of 57 last week and triple a January low of 18.25 in January.

To: El Canadiense who wrote (9964)	6/20/2005 3:39:27 AM
From: Crossy	Read Replies (2) \| Respond to of 37387

re: PA Resources - PAR.OL - Bingo !! I've been predicting this deal for a long time now. And today they pulled it off. Hats off to Ulrik Jansson (PAR's CEO) and the rest of PA Resources management. PA Resources sells for an unbelievable low marketcap of $340m USD.. This acquisition will put their daily output above 10.000bopd. Another 5000bopd will accure to the comapny early 2007 with their Volve field stake purchase recently.. Frankly, this puts PA Resources in the premier league of E&P juniors. And this league can handily command USD $1 Billion in marketcap.. stay tuned, you ain't seen nothing yet .. ! newsweb.no OSLO, NORWAY - 20 JUNE, 2005 - PA RESOURCES MAKES SUBSTANTIAL ACQUISITION AND TRIPLES PRODUCTION AND RESERVES PA Resources AB (`PAR`) is pleased to announce the signing of an agreement to acquire all outstanding ownership interests in the oilfield Didon and in the exploration licence Zarat situated offshore Tunisia in the Gulf of Gabes, including production and other related assets from the company M.P. Zarat Ltd. PA Resources already owns 22.22% in Didon and 9.99% in Zarat and the total ownership after the transaction will amount to 100% in Didon and minimum 45% in the Zarat permit. The remaining 55% ownership interest in Zarat is assumed called and thus owned by the state owned oil company ETAP. The transaction will imply that PA Resources will take on the operator ship for the production activities. Effective date of the transaction is of 1 January 2005. The acquisition implies that PA Resources production per day will reach approx. 10 000 BOEPD and the company`s proven and probable reserves will amount to 118 millions barrels oil equivalents based on reserve estimate as per 1st January, 2005. The reserves consist of 80 millions oil and 38 millions oil equivalents of gas. A development program is in process on the Didon field that will result in increased production as of 1st quarter 2006. For the Zarat permit, where several discoveries have been made, 3D seismic is being analysed in order to prepare an exploration well to be drilled during 2006. The agreed purchase price is USD 230 million. Of this USD 45 millions are due on signing, USD 60 millions by 18th August and the remaining part of the purchase price falls due at final closure of the transaction. The USD 45 millions and the USD 60 millions are structured as loans to the seller until closure. If PAR fails to meet such payment deadlines, the seller has the right to demand from PAR an indemnity of USD 25 millions in total as compensation. The transaction is conditional upon concession from the authorities in Tunisia which is expected to be lifted in September 2005. The acquisition will be financed through a combination of debt and equity. Ulrik Jansson, the President of the company, comments: `The transaction of additional ownership shares in Didon and Zarat implies that the company - after development of the Didon field - will have a substantial oil production and will gain additional reserves for further development in the Zarat permit.` PA Resources will now become a considerable company in the oil business and will be one of the largest oil companies in the Tunisian market. Through the company`s strong position in North Africa and through the recent acquisition on the Norwegian Continental Shelf, the company is well positioned for future expansion to become a substantial oil producer. In connection with this transaction, the company will invite to an analyst presentation today Monday 20th June, 2005 at 2:00 pm in the Felix Conference center, Aker Brygge, Oslo. ABOUT PA RESOURCES AB PA is an upstream company and operates in the first stage of the value chain: exploration and production. The activity is focused at present in north Africa and Tunisia. The company is listed on the Oslo Stock Exchange on the Small and Medium sized Business list (SMB) and on the Nordic Growth Market NGM. The Company has a strong position as an oil producer in Tunisia and has and will use this position to expand in Tunisia and in the nearby region. The company`s remaining activities are concentrated in Norway and Equatorial Guinea where the company is engaged in field development and exploration areas. PA Resources is today an expansive company with highly motivated employees in offices in Stockholm, Oslo and Tunis. Ulrik Jansson President&CEO Oslo, 20 June 2005 PA Resources AB For additional information please contact: Ulrik Jansson, President&CEO Tel: +46 707 514 184 E-mail: pa.resources@telia.com or Trond Bjerkan, VP Tel: +47 22838125 PA Resources AB www.paresources.se