Jun. 2012 - The Danish Energy Agency has extended PA Resources Licenses 12/06 and 9/06 by two years. License 12/06 is operated by the company with a 64% interest; and license 9/06 is operated by Maersk, wherein the company has a 26.8% stake. The 12/06 permit contains last year's Broder Tuck gas/condensate and Lille John oil discoveries. PAR plans to drill an appraisal well at Lille John and is negotiating a drilling management contract. In 2009, the Gita 1X-well in license 9/06 encountered indications of hydrocarbons in the Middle Jurassic high-pressure/high-temperature (HP/HT) secondary target, but with low permeability. Subsequent studies have not lowered the producibility risk. There is no well commitment but a decision regarding drilling must be made by October 2013. In the meantime, further subsurface studies will be performed to evaluate prospectivity at Upper Jurassic and shallower Cretaceous and Tertiary levels.

Nov. 2011 - PA Resources has completed its sidetrack of the Lille John well to a Chalk target without encountering an effective reservoir. PA said the sidetrack provided a second penetration of the Miocene sandstone level that was encountered in the original well. This sandstone was also oil-bearing, but the reservoir has better quality compared to the initial penetration. The sidetrack reached a total depth of 4,288 feet (1,307 meters) below mean sea level. The well encountered a modest thickness of highly-cemented Chalk with weak hydrocarbon indications and no effective reservoir. The operator said that the sidetrack also penetrated the Miocene sandstones around 591 feet (180 meters) away from the Miocene interval, which was found to be oil-bearing in the Lille John discovery well. The Lille John well lies about 11 miles (17 kilometers) south of Gorm field and 5 miles (eight kilometers) from PA Resources' gas and condensate discovery at the Broder Tuck prospect. Partners in the 12/06 license have formally declared both Broder Tuck and Lille John as discoveries. This announcement will allow the commencement of further technical and commercial analysis of the finds and a request for a license extension to be submitted. PA Resources operates the license with a 64 percent interest; Nordsofonden with 20 percent; Danoil Exploration with 8 percent; and Spyker Energy with 8 percent.

Oct. 2011 - PA Resources has made an oil discovery in the Miocene sandstone level in the Lille John prospect in License 12/06 offshore Denmark. The operator will now sidetrack the well to a Chalk target. Thus far, the well has encountered about 16 feet (5 meters) of hydrocarbon pay in an overall Miocene sandstone/shale interval of 82 feet (25 meters) thickness at a depth of nearly 2,953 feet (900 meters) below mean sea level. Initial analyses of collected data confirm the pay is a sweet, light oil of 34 to 35 degree API gravity with a gas:oil ratio of 350 scf/bbl and no water. PA Resources stated that the well found adequate reservoir development, as expected at this location, but has confirmed the anomaly to represent oil-bearing sandstone with an apparent column height in excess of 984 feet (300 meters). License 12/06 is operated by PA Resources UK Limited with a 64 percent interest; Nordsofondon with 20 percent; Danoil Exploration with 8 percent; and Spyker Energy with 8 percent.

Sep. 2011 - PA Resources has commenced exploratory drilling at the Lille John prospect in License 12/06, in the Danish North Sea. Drilling operations are being performed by the ENSCO 70 jackup, and the well is targeting three levels: Miocene, Chalk and Middle Jurassic. License 12/06 is operated by PA Resources UK Limited with a 64% interest; Nordsofondon with 20%; Danoil Exploration with 8%; and Spyker Energy with 8%.