PA Resources AB is a Sweden-based company active in the oil and gas industry. It is engaged in the acquisition, development, extraction and divestment of oil and gas reserves, as well as exploration to find new reserves. The Company’s operations are focused on three regions: North Africa, West Africa and the North Sea including Greenland. It has operations and assets in nine countries. The Company’s license portfolio comprises a total of 25 oil and gas licenses. The Company is the operator in 12 of its licenses, as well as part-owner and partner in the other licenses. As of December 31, 2011, the Company had a total of eight wholly subsidiaries, namely Microdrill AB, Hydrocarbures Tunisie El Bibane Ltd, Hydrocarbures Tunisie Corp, PA Resources Overseas Ltd, PA Energy Congo Ltd, Osborne Resources Ltd, PA Resources Denmark ApS and PA Resources UK Ltd. As of December 31, 2011, the Company’s largest shareholder was Avanda Pension, which held 8.3% shares.