PA Resources Sells Tunisian Assets to ETAP

Wednesday, May 11, 2016

PA Resources’, wholly owned subsidiaries PA Resources Tunisia Ltd., Hydrocarbures Tunisie Didon Ltd., Hydrocarbures Didon Jersey Ltd., and Hydrocarbures Tunisie Corp., executed a sale and purchase agreement with ETAP to sell their entire license interests onshore and offshore Tunisia to ETAP.

The sale is subject to customary government consents but the company does not anticipate any issues given the identity of the buyer.

The financial considerations for the sales is cash, however PA Resources said the amount was confidential.

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