PA Resources of Sweden to liquefy assets

PA Resources AB, Stockholm, has decided to liquefy its assets after determining that neither long-term refinancing nor a merger is in prospect.

The company is operating under a reorganization agreement with creditors supervised by Swedish courts.

It has interests in oil production on and offshore Tunisia and offshore Congo (Brazzaville) and exploratory interests in those countries as well as off the UK, the Netherlands, Denmark, and Germany.

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